Ocasio-Cortez’s Tax Plan Will Terrify You (How To Pay For All The "Free" Stuff)

Freshman Representative Alexandria Ocasio-Cortez has developed an extreme tax plan for her New York constituates that will tax the top bracket 82.7% of their income according to a new report.

As reported by atr.org

In an upcoming 60 Minutes interview, Congresswoman Alexandria Ocasio-Cortez (D-N.Y.) will call for federal income tax rates of up to 70 percent as part of a proposal to create vast new government spending programs.

The current top federal income tax rate is 37 percent, so the Ocasio-Cortez plan will nearly double the tax rate for the top bracket.

New York State has a top income tax rate of 8.82 percent while New York City has a top rate of 3.876 percent. So under this proposal, her constituents would pay a top combined income tax rate of 82.7 percent:

Federal income tax rate: 70.0%
NY state income tax rate: 8.82%
NYC income tax rate: 3.876%
TOTAL: 82.696%

New Yorkers would not be the only ones suffering under the Ocasio-Cortez plan. California taxpayers would pay a top rate of 83.3 percent (70 percent plus the California rate of 13.30 percent).

In addition to this high income tax rate, taxpayers would remain impacted by other taxes including payroll taxes, taxes on capital gains income and dividends, and the death tax.

Further, while Ocasio-Cortez has not released details of any other tax hikes to pay for her plan, this would likely not be the only income tax increase if she had her way. For instance, Senator Bernie Sanders (I-Vt.) proposed a $2 trillion 2.2 percent payroll tax on all families and a $10 trillion 6.2 percent payroll tax on all businesses as part of his socialized healthcare plan.

Congresswoman Rosa DeLauro (D-Conn.) and Congresswoman Jan Schakowsky (D-Ill.) have proposed numerous tax hikes including a new, 5 percent surtax on those making $500,000 per year and an increase in the Obamacare payroll tax from 0.9 percent to 4 percent.

Regardless of the specific proposal, it is clear that Democrats want higher taxes on the American people as they made clear when they changed the House rules to make it easier to raise taxes.

Just last night, Democrats rejected a proposal to make permanent the $2,000 child tax credit (up from 1,000) and the $24,000 standard deduction for families (up from $12,000).

http://redstatewatcher.com/article.asp?id=145024

Views: 60

Reply to This

Replies to This Discussion

It's quite ironic for some spoiled little bitch raised with a silver spoon in her mouth, but isn't that always the case with Democrats they're always rich and rule like Communists! They're dedicated to destroying our country!

The absurdest social engineering ideas have a tendency to become reality. This might as well.

She's Soros's property and appears to be the future of demorat party.

RSS

Latest Activity

Marklar's Ghost commented on Modern Feudal Serf's blog post Globalism v. Nationalism — Eggs Explain A Simple Story
"A great simple analogy."
24 minutes ago
Marklar's Ghost favorited Modern Feudal Serf's blog post Globalism v. Nationalism — Eggs Explain A Simple Story
25 minutes ago
Marklar's Ghost favorited Central Scrutinizer's blog post MULTIPLE PEOPLE SHOT IN HOSTAGE SITUATION AT SUNTRUST BANK IN SEBRING, FLORIDA
31 minutes ago
Marklar's Ghost commented on Central Scrutinizer's blog post MULTIPLE PEOPLE SHOT IN HOSTAGE SITUATION AT SUNTRUST BANK IN SEBRING, FLORIDA
"So, break into a bank with a gun and call the cops before you have even tried to get in the vault. That's as crazy as a kid pissing on an electric fence 3 times on the same day."
31 minutes ago
Marklar's Ghost favorited Boris's blog post BREAKING: Pelosi to decline steps to permit a State of the Union Jan 29 (In the house of Representatives)
37 minutes ago
Marklar's Ghost favorited Boris's blog post DISGRACED Sheila Jackson Lee To Resign As Congressional Black Caucus Foundation Chair
37 minutes ago
Marklar's Ghost favorited Boris's blog post Brazil has just recognized Juan Guaidó as the new president of Venezuela, for the sake of transition the country into democracy
37 minutes ago
Deep Space commented on Deep Space's blog post Off The Deep End - 'Deep Space' Free-Flow Thoughts (An Ongoing Eruption)
"It's easy to bitch about everything that's fucked up in the world. But never forget  the world is a dream & You are real"
38 minutes ago
Marklar's Ghost commented on Boris's blog post BREAKING: Pelosi to decline steps to permit a State of the Union Jan 29 (In the house of Representatives)
"What Trump should do is do the SOTU from the infowars set with some questions from the infowars crew afterward. Copyright of all footage goes to Alex Jones who is willing to license the footage to lamestream media with a contractual clause that only…"
38 minutes ago
Deep Space commented on Deep Space's blog post Off The Deep End - 'Deep Space' Free-Flow Thoughts (An Ongoing Eruption)
"Why are we hating each other over different beLIEfs when We're Here  together as one fuck pettiness "
43 minutes ago
Deep Space commented on Deep Space's blog post Off The Deep End - 'Deep Space' Free-Flow Thoughts (An Ongoing Eruption)
"I'm not enlightened. There's just enlightenment. No one can explain THIS"
48 minutes ago
Marklar's Ghost favorited Bananaman's blog post Lunatic left-wing twitter users are about to go to JAIL over making “terroristic threats” against Catholic school students… and it’s about damn time
52 minutes ago
Marklar's Ghost commented on Bananaman's blog post Lunatic left-wing twitter users are about to go to JAIL over making “terroristic threats” against Catholic school students… and it’s about damn time
"I hope so but I'll only believe it when I see it."
52 minutes ago
Deep Space commented on Deep Space's blog post Off The Deep End - 'Deep Space' Free-Flow Thoughts (An Ongoing Eruption)
"When you start to go down this rabbit hole of where everything began, you begin to think that rabbits are the Ultimate Source of everything. "
59 minutes ago
Deep Space commented on Deep Space's blog post Off The Deep End - 'Deep Space' Free-Flow Thoughts (An Ongoing Eruption)
"Consciousness always Is. It has no beginning. That's fucked up"
1 hour ago
Boris favorited Kenneth Alan Sharber's photo
1 hour ago

Please remember this website is supported by your donations...

© 2019   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2015 - all rights reserved. unless otherwise noted