Rep. Ilhan Omar proposes taxing wealthiest Americans up to 90%

[Bum]

Aw, yes, the march towards socialism begins with destroying incentive and initiative which will drive businesses and individuals out of the market costing jobs and economic activity. The Venezuela experience all over again

https://www.foxnews.com/world/how-s...in-south-america-into-an-economic-basket-case

I happen to believe that socialism and communism is a wonderful way to govern.....for insects.

The majority of human beings however, are not hive minded; we are social animals, but not colony creatures.....I have no desire to live in such a world.

 

[eohrnberger]

Aw, yes, the march towards socialism begins with destroying incentive and initiative which will drive businesses and individuals out of the market costing jobs and economic activity. The Venezuela experience all over again

https://www.foxnews.com/world/how-s...in-south-america-into-an-economic-basket-case

Indeed.

I'm puzzled by why some believe that there's something wrong with 3.5% GDP growth, want to return back to anemic 1%, or less, GDP growth with higher unemployment.

 

[eohrnberger]

I happen to believe that socialism and communism is a wonderful way to govern.....for insects.

The majority of human beings however, are not hive minded; we are social animals, but not colony creatures.....I have no desire to live in such a world.

'Hive Mind'. Indeed.

 

[Fenton]

Rep. Ilhan Omar outlines some of the ways programs like Medicare for All and the Green New Deal could be funded, including taxing the wealthiest Americans up to 90 percent.


https://news.yahoo.com/rep-ilhan-omar-proposes-taxing-214107728.html


Sounds like an echo of AOC, but the number jumped from 70% to 90%.

One-upmanship?

First, the effectiveness of confiscatory tax rates or a wealth tax is predicated on the off chance the wealthy and Corporations will simply play along.

They will NOT.

In 2012, France proposed a 75% top marginal rate or a millionaire tax only to abandon the initiave 2 years later.

https://www.google.com/amp/s/www.fo...tax-failure-a-blow-to-pikettys-economics/amp/

Wealth and Capital be will always move away from confiscatory tax rates

Second, either Omar is a moron or she thinks her constituents and the American people are morons. A 90% tax on the wealthy would not raise the revenue needed to fund a Single payer system or Ocasio's " New Green Deal " ( she copied Canada's 2015 Leap Manifesto )

People need to wise the hell up

 

[Fenton]

You realize that the U.S. has had a marginal tax rate of over 90% before, right?

It's not the 1950s, it's 2019.

Out of all of the justifications being bandied around the internet for confiscatory tax rates, that one is by far the dumbest.

 

[CriticalThought]

It's not the 1950s, it's 2019.

Out of all of the justifications being bandied around the internet for confiscatory tax rates, that one is by far the dumbest.

It wasn't a justification, it was a rebuttal to the hyperbole that such a tax rate would economically devestate the country. With our current national debt, there is an extremely high likelihood that we will one day return to such a rate, just as we had to in order to pay for WW2.

 

[washunut]

Rep. Ilhan Omar outlines some of the ways programs like Medicare for All and the Green New Deal could be funded, including taxing the wealthiest Americans up to 90 percent.


https://news.yahoo.com/rep-ilhan-omar-proposes-taxing-214107728.html


Sounds like an echo of AOC, but the number jumped from 70% to 90%.

One-upmanship?

Just imagine,the 2020 primary season has not even started. We already have a new congresswoman @ 90% rate and Warren at a 2% wealth tax. The bidding starts from there. Can't wait to see where the bidding ends in the summer/fall of 2020!

 

[marke]

Good results? We went from the healthy middle class of the 1950s and 60s to an income inequality that surpasses the 1920s.

Income inequality? Let's talk about income in equality. Do you know what the median income is for a family in Haiti? How about in the Philippines? How about being thankful to God for what He has blessed you with and don't worry about what other people have?

 

[TU Curmudgeon]

Since forever, the founding fathers were the upper business class of the colonies

Be careful, you are only a short step away from "Regardless of what the recruiting posters said, the American Revolution was actually a conflict between the England based plutocracy and the Colony based plutocracy to see which of them got to get the most money out of the colonies." and that will get you into trouble with the "Strict Constructionist Historians".

 

[EMNofSeattle]

Be careful, you are only a short step away from "Regardless of what the recruiting posters said, the American Revolution was actually a conflict between the England based plutocracy and the Colony based plutocracy to see which of them got to get the most money out of the colonies." and that will get you into trouble with the "Strict Constructionist Historians".

Why? I fully understand the founders were rich people in part looking out for their own interests. I philosophically agree with absolute property rights and because of my religion am prohibited from committing the sin of envy. I also enjoy not being killed by communists, so I don’t have any qualms about leaders being rich philosophical conservatives

Why would I lie about the revolution? The revolts that led to the revolutionary war were the wealthy importers and sugar distillers and lawyers who were targeted by taxes


Sent from my iPhone using Tapatalk

 

[TU Curmudgeon]

Every paycheck I have ever received has been from a wealthy person. One of the main reasons our country is the number of economic power in the world is because of our capitalistic system.

You are quite correct. Of course there are a few other minor factors like:

1. having an (effectively) unlimited supply of natural resources;
2. not having any enemies that had the logistical capacity to effectively dispute the taking of that (effectively) unlimited supply of natural resources;
3. having an industrial base that hadn't (effectively) been destroyed by two wars within 50 years;
4. having a financial system that had been enriched by huge profits made by selling war materials to all comers; and
5. having an incredibly "flexible" definition of what "freedom and democracy" meant;

to name but a few.

Taxing millionaires and billionaires 90% will kill our capitalistic system and hurt those that work for a living.

Then the obvious route to take is to tax the rich LESS than everyone else so that they can use their wealth to create more jobs - right?

Think about it, if the Federal government takes 90% and the State takes 10% and the Lord gets 10% then that doesn't leave much to reinvest in jobs.

Well then, "The Lord" will just have to adjust Her expectations, won't She?

Its not worth risking money for so little financial reward. A 90% Federal income tax will stymie reinvestment.

If you look at the other things that were happening when the TOP American marginal tax rate was even close to 90% you will see that it is quite possible to have a TOP marginal tax rate that is that high - all you have to do is get a war started.

Remember "War is good for business." - American Association of Manufacturers, Merchants, and Morticians.

 

[TU Curmudgeon]

I happen to believe that socialism and communism is a wonderful way to govern.....for insects.

Do you actually know the difference between "socialism" and "communism"? In fact, do you actually know what EITHER of those terms mean?

The majority of human beings however, are not hive minded; we are social animals, but not colony creatures.....I have no desire to live in such a world.

Did you know that the majority of human beings actually live under social orders that you would consider "socialist"?

Did you know that "Communism" is NOT an economic system, but that "Capitalism" is?

Do you know the difference between an economic system and a political system?

 

[iguanaman]

Lol, since when is taking 90% of anyone's earnings equal representation?

Sent from my SM-T587P using Tapatalk

She was talking about restoring a tax rate that was in place for decades during which we had the fastest GDP growth in our history. Your hyperbole is not required.

 

[TU Curmudgeon]

Why? I fully understand the founders were rich people in part looking out for their own interests. I philosophically agree with absolute property rights and because of my religion am prohibited from committing the sin of envy. I also enjoy not being killed by communists, so I don’t have any qualms about leaders being rich philosophical conservatives

Why would I lie about the revolution? The revolts that led to the revolutionary war were the wealthy importers and sugar distillers and lawyers who were targeted by taxes

You might also want to consider that it was actually more profitable to import goods legally (and that meant paying the taxes [and that meant supporting the England based plutocracy]) than it was to smuggle them in (so that you didn't have to pay the taxes) once you accounted for the fact that the "ship replacement cost" for smugglers (essentially the Colony based plutocracy) was factored in.

 

[Slavister]

The chickens are now coming home to roost. Who knew that giving women the right to vote wound result in female idiots invading the halls of Congress to advocate for the destruction of the foundations of American freedoms and prosperity?

Wow! So, just to be clear, I am pretty sure you just said giving women right to vote was wrong?

 

[Slavister]

Well then, "The Lord" will just have to adjust Her expectations, won't She?

:lamo

 

[Slavister]

either Omar is a moron or she thinks her constituents and the American people are morons

Worked for Trump... on both accounts too

 

[CriticalThought]

Income inequality? Let's talk about income in equality. Do you know what the median income is for a family in Haiti? How about in the Philippines? How about being thankful to God for what He has blessed you with and don't worry about what other people have?

I don't know how naming countries where everyone is poor or the income inequality is worse is an argument for our current situation.

 

[apdst]

Good results? We went from the healthy middle class of the 1950s and 60s to an income inequality that surpasses the 1920s.

The way to fix that is less government, not more government.

 

[poweRob]

Rep. Ilhan Omar outlines some of the ways programs like Medicare for All and the Green New Deal could be funded, including taxing the wealthiest Americans up to 90 percent.


https://news.yahoo.com/rep-ilhan-omar-proposes-taxing-214107728.html


Sounds like an echo of AOC, but the number jumped from 70% to 90%.

One-upmanship?

Still not as high as it was under that communist Eisenhower.

 

[marke]

Wow! So, just to be clear, I am pretty sure you just said giving women right to vote was wrong?

I did suggest, tongue-in-cheek, that giving women the right to vote has resulted in these unlearned and illogical women now seeking to push unwise legislation from the halls of Congress.

 

[poweRob]

I did suggest, tongue-in-cheek, that giving women the right to vote has resulted in these unlearned and illogical women now seeking to push unwise legislation from the halls of Congress.

Conservatives are really, really stupid people.

I mean that in a tongue-and-cheek sort of way of course.

 

[marke]

I don't know how naming countries where everyone is poor or the income inequality is worse is an argument for our current situation.

Let's face it. There will always be poor people in the world and in America in spite of anything the government can do to change that.

 

[Mason66]

It's not the 1950s, it's 2019.

Out of all of the justifications being bandied around the internet for confiscatory tax rates, that one is by far the dumbest.

Isn't it funny that the side that harps on the fact that things have changed over the past 60 years believe that about everything but taxes?

 

[j brown's body]

A small number of people hoarding the wealth hurts us all, as much of that wealth does nothing to expand the economy. The rich and poor are always with us. It takes a progressive government to foster a middle class.