You can’t turn the TV on and not be bombarded with Ocasio-Cortez’s. Especially clips of her making a fool of herself with her “brilliant” plans.
On Thursday, Rep. Alexandria Ocasio-Cortez (D-NY) appeared on the series premier of SHOWTIME’s “Desus & Mero.” During her segment, Ocasio-Cortez talked about the Green New Deal, and explained her support for a marginal tax rate of 70% on individuals making more than $10 million a year:
“If you make more than $10 million in one year, which is a pretty good year … your ten millionth and one dollar gets taxed at 70%, which, by the way, we used to have marginal tax rates under Republican presidents of 90%, and it was when we experienced some of the largest rates of economic [growth in the United States].
…It really comes down to the question of, isn’t $10 million enough? Like, when does it stop, right? At what point is it immoral that we’re building Jeff Bezos a helipad when we have the most amount of homeless people in New York City?”
Progressives frequently claim that because high marginal tax rates didn’t appear to dampen the economic growth of the United States in the 1950s, Americans shouldn’t fear a similar marginal tax rate today. This is wildly misleading for two reasons. First, the way in which the tax system was designed in the 1950s meant that a high marginal tax rate didn’t have the same impact as it would today. Second, the United States economy benefited dramatically from a post-war manufacturing boom.
Barring any obvious wrongs (swindling, cheating, etc), why is the acquisition of a certain amount of wealth viewed by some as inherently immoral? Ask any progressive this question, and they will likely give you a boilerplate answer involving “wealth inequality.” This is an unsatisfactory reply because it doesn’t actually answer the underlying question, which is, why is wealth immoral?
Should there be a cap on American’s success? Let us know what you think in the comments below.