Newly-sworn in Congresswoman Alexandria Ocasio-Cortez has quickly made herself into the thought leader of the Democratic Party, and that’s terrifying news for anyone who even kind of pays attention.
Recently, Ocasio-Cortez made headlines by suggesting that the wealthiest Americans should be taxed at 70 percent of their income — effectively endorsing the idea that your wealth doesn’t actually belong to you.
Now, the idea that only the wealthiest Americans would have to endure such a steep tax burden is a bit misleading. Sure, if implemented, this tax rate would only hit the “tippy-tops” (AOC’s own words)…initially. But ask yourself this: have you or anyone that you know ever worked for a poor person before? Has a low-income person ever created a job for anyone…ever?
This is not a dig at people who make less money, just a simple thought experiment. The fact is that starting and operating a business requires capitol, and benefits people without as much capitol by giving them the opportunity to share in the revenue. That’s how business has worked since..well…forever. By targeting the rich in this way, the only thing you’re really going to do is scare them off.
But here we are again…explaining very basic economic lessons to someone who probably hates economics.
~ Facts Not Memes