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Hall of Famer [22127]
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Bad News For You Guys Making Over $10 M per Year
Jan 7, 2019, 2:23 PM
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Newly elected Rep. Alexandria Ocasio-Cortez (D) from New York plans to introduce legislation that would raise the income tax to 70% for those making over $10 M./Year. The article states. "the Federal Government would EARN $72 billion each year".
The Federal Government would not earn one red cent, they are taking money from those who do earn it. Maybe the members of the Senate and House should be taxed 70% on all of their income, with no deductions, so they can feel the effect of their rules and regulations.
Message was edited by: Joe21®
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Heisman Winner [105573]
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Joe, there's a national championship game tonight
Jan 7, 2019, 2:25 PM
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and Clemson is going to win it.
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Heisman Winner [139241]
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^ Not amphitheatre related.***
Jan 7, 2019, 2:39 PM
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All-Pro [663]
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Re: Bad News For You Guys Making Over $10 M per Year
Jan 7, 2019, 2:25 PM
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No one in Congress blue or red would even entertain this bill.. This woman will be a disgrace on congress and will probably only make it one term.
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All-TigerNet [14751]
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Re: Bad News For You Guys Making Over $10 M per Year
Jan 7, 2019, 2:27 PM
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she has the seat for life in that district if she wants it.
New York though, I see the senate in her future for sure.
You underestimate how far gone the country and population are. They are eating all this garbage up.
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Orange Blooded [3818]
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Steal from the rich and give it to the poor...Bull$hyatt***
Jan 7, 2019, 2:26 PM
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CU Guru [1094]
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That’s flat out disgusting.
Jan 7, 2019, 2:26 PM
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She ought to be ashamed to even come up with some $#!+ Like that.
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Legend [18495]
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Re: Bad News For You Guys Making Over $10 M per Year
Jan 7, 2019, 2:28 PM
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Screw $10M,Clemson winning the National Championship tonight is more important to me
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110%er [7647]
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Thankfully there is no way her idea makes it anywhere.
Jan 7, 2019, 2:28 PM
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On top of that she has already made an enemy of Nancy Pelosi (in her own party). Ocasio-Cortez will not last long.
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All-TigerNet [14751]
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Read about her select committee on "climate change"
Jan 7, 2019, 2:30 PM
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Its straight out of the red revolution.
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CU Medallion [52761]
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Re: Bad News For You Guys Making Over $10 M per Year
Jan 7, 2019, 2:36 PM
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$20T deficit, and $72B/year...........hmm
so, it would only take about 300 years to pay the bills?
Nice!
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Legend [17326]
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Re: Bad News For You Guys Making Over $10 M per Year
Jan 7, 2019, 2:42 PM
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You’ve really set me back today Joe — I had my hands full deciding whether to buy oceanfront in Anguilla or Antigua or both. And of course tonight’s game. Now I’m distraught. Dabo may have to do it without my TNet input tonight. Nonetheless, thanks for the heads-up and go Tigers!
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Letterman [285]
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Re: Bad News For You Guys Making Over $10 M per Year
Jan 7, 2019, 2:47 PM
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Do you know how marginal tax rates work? If you make 10m this year, you're not paying 7m in taxes, you pay 70% on your 10 millionith dollar. I for one agree with the notion that we should have more tax brackets at higher levels..why is the person making ~550k (or whatever top bracket is) paying the same rate as someone who makes 50x that?
Our deficit is out of control, government spending is out of control, infrastructure and transit is crumbling, schools and pensions are underfunded all over the country. I hate to be the person to break the news to you but taxes will be higher in the future than they are today..there is no way around it
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Legend [19603]
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That is higher than the top income tax bracket in 1921
Jan 7, 2019, 2:48 PM
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which was 58% for anyone making over $200k/year..
but still a lot lower than the all-time high of 94% in 1944, again for anyone making over $200k/year.
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Heisman Winner [110330]
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Good
Jan 7, 2019, 2:49 PM
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Hopefully they will use some of that money to deport cutigerbob® back to Loompa Land.
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All-In [47320]
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I'm glad I took some deferred salary options and moved
Jan 7, 2019, 2:50 PM
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$3.975M into 2020 salary. That should keep me under the $10M mark.
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All-TigerNet [12893]
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Those that wish for higher taxes....
Jan 7, 2019, 2:58 PM
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can pay more tax now. There is nothing that says that AOC cannot pay 70% of her income in taxes now. You can always donate more than the IRS "requires" you to pay. If you believe in these programs; such as Obamacare, Medicare for all, Supporting Illegals, then go ahead and lead by example and pay more to the IRS without it having to be LAW. For instance, Warren Buffet, a big supporter of Obamacare, could have said, "I will start this thing off and take $100M and provide insurance for 1,000 families". The real truth is that they have no intention of helping anyone, they just wish to appear compassionate. Hypocrisy at it's finest.
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Letterman [285]
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Re: Those that wish for higher taxes....
Jan 7, 2019, 3:13 PM
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I don't think anybody on Earth wants to pay higher taxes. Can you explain the 'hypocrisy at it's finest' comment? Berkshire Hathaway has donated almost $30Bn to charity over the past 10 years....
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