Thursday, January 24, 2019

Alexandria Ocasio-Cortez and Vox explain how tax brackets work


Thus far, Anderson Cooper shows other politicians besides Alexandria Ocasio-Cortez dance on The Rediculist is the most read and commented on entry this month.  So when I saw Rep. Ocasio-Cortez Debunks Myths About A 70% Marginal Tax from 'The Late Show with Stephen Colbert' hot on the heels of a video from Vox on the same subject, I knew I had to write about it.  Here's the clip, which was uploaded to YouTube two days ago.

Rep. Alexandria Ocasio-Cortez wants to debunk misleading representations of her proposed 70% marginal tax rate.
That was fun to watch in addition to being informative.  If Stephen and AOC didn't give enough details for my readers, How tax brackets actually work from Vox just might do the trick.

There is a common misunderstanding about how tax brackets work in the US, and it’s causing us to have uninformed debates about taxes.
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The TEx crew took a deep dive into Representative Alexandria Ocasio-Cortez's proposal for a marginal tax rate of 70% for top earners in America. A lot of people are upset, and even more have no idea how it works.
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When Rep. Alexandria Ocasio-Cortez proposed a 70 percent top income tax rate, many conservatives started saying Democrats wants to take away 70 percent of Americans’ hard-earned money. This is not only wrong, but it takes advantage of something Americans have long misunderstood: tax brackets. It’s time to fix that with a simple, paper-made video.
Here's to hoping my readers are smarter about tax brackets and less afraid of high marginal tax rates.  Besides, a 70% top marginal tax bracket was good enough for Dick Nixon, who was not only not a liberal, but an avowed anti-communist.


I'm sure I'll have more to write about Representative Ocasio-Cortez in the future.  In the meantime, stay tuned for an entry celebrating Irish Coffee Day and Coffee Party USA's birthday followed by a post or two I promised about the Oscar nominees.

4 comments:

  1. The rabid right won't/can't hear her or see what she is getting at. But show them a clip of her dancing as a kid...Woohoo! Watch the keyboard warriors come out in droves.

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    1. Someone on the right tried to attack this on Facebook. However, he proved both that he didn't want to understand it and that he couldn't write.

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  2. Hey, Vince, do me a favor and add Leese to Our Doomed Present. She just applied as Marie Ravencrow Nasico. I'm fucking banned again - cunts!! - and she's proxy posting for me. Gracias, hermano.

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    1. Done. Sorry to read about Facebook banning you again.

      Delete