Ocasio Cortez proposes 70% tax on ich to save the planet

[spurraider21]

Given your occupation, you're going to be in top tier brackets on the regular. I only had it once because of a stock option.

I predict you'll become more conservative on tax policy, when it starts affecting you.

yep. the ole "you'll get conservative and wise when you get older" shtick.

tax rates already affect me. but i'd have gladly traded paying more in taxes for having my wife' green card application processed quicker than it was. if i'm ever making enough to be hit by the highest tax bracket, i'm unlikely to give a about the rates.

and i appreciate the compliment, but let it be known that i fully plan to be the trophy husband when my wife finishes med school

if we're earning anything near 500k, we'll be more than comfortable regardless of tax rates. and if i'm earning 10 mil, i'm not going to give a about a 70% marginal tax rate. we dont live big. dont care about nice cars and shiny things. tbh if we have a roof, food, and a working internet connection, we're happy.

[DarrinS]

yep. the ole "you'll get conservative and wise when you get older" shtick.

tax rates already affect me. but i'd have gladly traded paying more in taxes for having my wife' green card application processed quicker than it was. if i'm ever making enough to be hit by the highest tax bracket, i'm unlikely to give a about the rates.

and i appreciate the compliment, but let it be known that i fully plan to be the trophy husband when my wife finishes med school

if we're earning anything near 500k, we'll be more than comfortable regardless of tax rates. and if i'm earning 10 mil, i'm not going to give a about a 70% marginal tax rate. we dont live big. dont care about nice cars and shiny things. tbh if we have a roof, food, and a working internet connection, we're happy.

Oh . I forgot your wife is going to be a doc. Y'all screwed.


Hopefully, you don't live in CA.

[ElNono]

I predict you'll become more conservative on tax policy, when it starts affecting you.

I never understood the rationale for this, and that’s not my experience. Could you elaborate?

[DarrinS]

I never understood the rationale for this, and that’s not my experience. Could you elaborate?

Back when I made very little money and actually got a refund every year, I didn't give a what "rich" paid. Now that I'm older and write checks to the IRS, it's more noticeable. Does that help?

[baseline bum]

I never understood the rationale for this, and that’s not my experience. Could you elaborate?

Because Baby Boomers who voted for Nixon were conservative once Reagan became president?

[ElNono]

Back when I made very little money and actually got a refund every year, I didn't give a what "rich" paid. Now that I'm older and write checks to the IRS, it's more noticeable. Does that help?

Well, partly. You still make more now after taxes than what you made when you made little money (that’s normally the case anyways), and I’m pretty certain you rather be in your current situation than the former.

But what you wrote implicitly states that socioeconomic factors would alter your political bias, that’s something I’ve heard often, but really can’t relate to. I think there’s possibly some amount of greed or animosity towards government in general (just an observation, no criticism), but I can’t really put my finger on it. That’s why I’m asking somebody that feels that way.

[spurraider21]

Oh . I forgot your wife is going to be a doc. Y'all screwed.


Hopefully, you don't live in CA.

We live in CA. May move for school. Will ultimately move back.

Well be fine regardless of tax rates

[Th'Pusher]

Not in Texas, beotch!




We have property tax tho. Mine is 10k. Sucks

You need to move out of the sticks rich man. You live in Bexar?

[rmt]

yep. the ole "you'll get conservative and wise when you get older" shtick.

tax rates already affect me. but i'd have gladly traded paying more in taxes for having my wife' green card application processed quicker than it was. if i'm ever making enough to be hit by the highest tax bracket, i'm unlikely to give a about the rates.

and i appreciate the compliment, but let it be known that i fully plan to be the trophy husband when my wife finishes med school

if we're earning anything near 500k, we'll be more than comfortable regardless of tax rates. and if i'm earning 10 mil, i'm not going to give a about a 70% marginal tax rate. we dont live big. dont care about nice cars and shiny things. tbh if we have a roof, food, and a working internet connection, we're happy.

If the dream of Medicare for All comes true, prepare not to be a trophy husband since they would have to cap your wife's salary :-)

It's not necessarily the age factor (not discounting wisdom and experience) but when those precious children come along, all those things that our parents never used like strollers, safety gates, outlet protectors, car seat, baby monitor, changing table, play pen, etc suddenly seem like necessities. And when you start thinking about schools, (just like SpursforSix) you realize that maybe that local public school is not for little Johnny. And when you decide to swing for that private school, you start to wonder why am I paying outrageous property taxes and my child gets no benefit. And when little Johnny applies to college and you decide to send him to a state university (because you've spent all that money on private K-12) and he isn't a "under-represented minority" who gets a free ride to some Ivy League college, you think how unfair it is to be judged solely on the color of his skin.

And when you take risk investing what money you have in the stock market and you're taxed at some high marginal rate because you bought and sold within a year, you think what am I taking such risk with my money to give Uncle Sam such a high % of the profit. And if I didn't have to pay so much in taxes, I could give Johnny a really good start when he buys his first home or help save for grandchild's college, etc., etc. That I think is the sequence when you realize it comes down to every dollar that is given to Uncle Sam is a dollar taken from Little Johnny.

[DarrinS]

You need to move out of the sticks rich man. You live in Bexar?

Technically Bexar

[DarrinS]

We live in CA. May move for school. Will ultimately move back.

Well be fine regardless of tax rates

My sister and her husband are both docs and live in Concord. They're screwed.

[Th'Pusher]

Technically Bexar

You should move out of your starter home with that big stock option, tbh.

[DarrinS]

You should move out of your starter home with that big stock option, tbh.

4th house. Thanks for your concern.

[DarrinS]

Lol, starter house with 10k property tax.

[Th'Pusher]

Lol, starter house with 10k property tax.

I was being hyperbolic, but you’d think someone who brags about how much they pay in taxes as much as you do would live in house valued at more than $400k.

[DarrinS]

I was being hyperbolic, but you’d think someone who brags about how much they pay in taxes as much as you do would live in house valued at more than $400k.

Worth over 450k when I'm done with it.

[LkrFan]

Not all Democrats want this. K.

Damn, I never saw a skinny slob

[Quadzilla99]

Socialism is cool. Ocasio Cortez is hot.

Chris irl

[Spurminator]

This dumbass thinking he's ever going to make more than $10 million in a year.

[Winehole23]

...or that a 70% marginal rate means the USG gets 70% of his taxable income.

the guy's either dumb or playing his followers for dumb.

[ElNono]

From Apple’s Tim Cook letter to investors:

Tax rate of approximately 16.5 percent before discrete items

https://www.apple.com/newsroom/2019/...ple-investors/

I thought corporate tax rate was 21%?

[Spurminator]

...or that a 70% marginal rate means the USG gets 70% of his taxable income.

the guy's either dumb or playing his followers for dumb.

It's an effective talking point. Gets people to care about something that would never have impacted them in the first place.

[Winehole23]

It's an effective talking point. Gets people to care about something that would never have impacted them in the first place.

I agree that lies are often swifter and more effective than the truth.

[boutons_deux]

From Apple’s Tim Cook letter to investors:

Tax rate of approximately 16.5 percent before discrete items

https://www.apple.com/newsroom/2019/...ple-investors/

I thought corporate tax rate was 21%?

American companies contribute less to the national tax contributions than companies any other industrial nation

tax avoidance through the rigged tax system, and criminal tax evasion.

AOC should also go after the corporate avoidance/evasion tax scam as well as individuals.

And tax income should include, at the same rate, earned and unearned income. not more bull that capital gains tax pays much lower tax rate. Labor and Capital income at the same rate, and VERY progressive rates.

[Roscoe P. Coltrane]

It's an effective talking point. Gets people to care about something that would never have impacted them in the first place.

Do you really think that a 70% tax rate won't eventually affect lower income workers?