Democrats want to tax the wealthy, but Republicans are portraying such an idea as a tax hike on everybody that will hurt the economy. Such fear tactics don’t faze Rep. Alexandria Ocasio-Cortez (D-N.Y.), who took to Twitter over the weekend to explain exactly whose taxes would be raised.
Ocasio-Cortez has proposed raising the top marginal tax rate to 70 percent, a plan that a majority of Americans support.
Basically, the tax rate is applied to people who make at least $10 million annually. That means the tax rate would only apply to all income above $10 million. Republicans are trying to make Americans believe that it would apply to all income up to $10 million, which is misleading.
On Saturday, Ocasio-Cortez explained who would be affected by her tax proposal after pointing out that while our country may be prosperous for some, it’s not so for most of us.
US GDP is at an all-time high. As a nation, we are more prosperous than we ever have been.
But that’s simply not the lived truth. Even now, I’m paid similar to a doctor or corporate lawyer – many who‘d think they are “rich,” but it’s nowhere near what we actually mean in policy.
— Alexandria Ocasio-Cortez (@AOC) May 11, 2019
When we say “tax the rich,” we mean nesting-doll yacht rich. For-profit prison rich. Betsy DeVos, student-loan-shark rich.
Trick-the-country-into-war rich. Subsidizing-workforce-w-food-stamps rich.
Because THAT kind of rich is simply not good for society, & it’s like 10 people.
— Alexandria Ocasio-Cortez (@AOC) May 11, 2019
That means the Walton family, who own Wal-Mart, would be taxed under her proposal as would the Koch brothers, many hedge-funders and corporate CEOs like Amazon’s Jeff Bezos.
The freshman congresswoman then explained that higher taxes would bring in money to fund things like better healthcare and public education.
Ultimately, living in a moral society, a good nation, means establishing some basic standards of dignity:
– healthcare as a right
– a living wage
– public education that prepares for civil society + economy (which now shld incl college)
– all people having power in the economy— Alexandria Ocasio-Cortez (@AOC) May 11, 2019
She concluded by urging Americans to unionize and keep fighting for policies that improve their lives.
And in the meantime, as we continue fighting for Medicare for All, a living wage, & more:
Unionize your workplace.
Demand a raise.
And don’t stop until you get one. ??— Alexandria Ocasio-Cortez (@AOC) May 11, 2019
Republicans want to know how Democrats will pay the price tag on infrastructure spending and universal healthcare, but increasing taxes on the wealthy is the logical answer. For too long, they have been allowed to selfishly horde wealth while our nation falls apart and suffers. It’s time to change that so the entire country can prosper and thrive, and AOC’s plan is a good start.
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