Rep Ocasio-Cortez Apologizes to Trump Jr Over Alleged 'Abuse of Power'

Adjust Comment Print

However, the moment in question comes from when Cooper asked her about her thoughts of having incumbent Democrats unseated by newcomers from their own party in a primary.

"People are going to have to start paying their fair share of taxes", she said. Here's Chris Rock: "You know what's f*cked up about taxes?"

Ocasio-Cortez suggests that any taxpayer that makes more than $10 million a year, or roughly about 16,000 Americans, would be taxed at 70 percent, almost doubling the current tax rate for this bracket of earners. That doesn't mean all $10 million dollars are taxed at an extremely high rate.

But as The Washington Post's Fact Checker noted, the $21 trillion claim was quite, well, fuzzy.

But even that figure is a gross overstatement. Those finding themselves in that monumental bracket will do what they can to get themselves out of it. To this, she suggested incumbent Democrats have failed to make progress. Marginal tax rates, in which taxes increase as income rises, were as high as 90 percent under President Eisenhower, and were above 50 percent up until the second Reagan tax cut. As a result, the existence of the 91 percent bracket [of the 1950s] did not necessarily lead to significantly higher revenue collections from the top 1 percent. In fact, prior to the revolutionary bipartisan tax reform of 1986, the distribution of the federal income tax burden was less progressive. The goal is to tax lower earners at lower rates, while assessing higher rates on wealthier Americans.

An exact accounting won't be available until later in the year, especially given that the IRS is temporarily closed - one of the benefits of a partial government shutdown, one might say.

Sweden has a top rate of 70 percent, Matt Bruenig, founder of People's Policy Project, a left-leaning advocacy group wrote in Jacobin magazine.

The so-called Green New Deal that Ocasio-Cortez and other Democratic upstarts are backing include lofty - and expensive - goals like achieving universal health care and converting every facet of the USA economy to renewable sources of energy in 12 years. In reality, as AOC herself carefully explains above, the top rate only kicks in on money made above that threshold.

The question that remains is whether Ocasio-Cortez will find some accomodation with the centrists who control the Democratic Party and their friends in the national media. If Ocasio-Cortez promised to overhaul ICE, the last thing she should be doing on her first days in office is putting her support behind funding for the DHS - even as a short-term measure.

Representative Steve Scalise (R-LA), House of Representatives Minority Whip, is outraged over the proposal, stating that Democrats are trying to "take away 70% of your income and give it to leftist fantasy programs". "Dream on, losers. Not gonna happen!"

Democratic congresswoman Alexandria Ocasio-Cortez issued an apology to Donald Trump Jr, the son of the U.S. president, over her own tweet posted on 7 December. "When you look at how he reacted to the Charlottesville incident, where neo-Nazis murdered a woman, versus how he manufactures crises like immigrants seeking legal refuge on our borders, it's, it's night and day", Ocasio-Cortez said, adding that Trump was a "symptom" of a problem. "And so for me, what's unrealistic is - is what we're living in right now".