Alexandria Ocasio-Cortez says 'no question' Trump is racist

Alexandria Ocasio-Cortez

On Friday, however, she hit back at her critics by posting a new video of herself dancing outside her new office in the halls of Congress as War by Edwin Starr played in the background.

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Rep. Steve Scalise, R. -Louisiana, tweeted that Ocasio-Cortez's approach would lead to the government taking away "70% of your income". There is no bill, and even if there was one featuring a 70% tax rate on the rich, it is hard to imagine it passing into law. On 60 Minutes on Sunday night, she made another bold statement about President Trump being a racist.

According to the OECD, single Swedish workers making over 867,000 SEK (around $98,000 at prevailing exchange rates) face a 70 percent overall marginal tax rate on all labor compensation earned above that threshold. We can debate the merits of high marginal tax rates, but saying that a 70% top marginal tax rate is "radical" is another way of saying that you don't know anything about USA tax policy in the 20th century. That doesn't mean all $10 million are taxed at an extremely high rate.

During the interview, Cooper asked if she thinks President Trump is a racist. "It requires risk to try something new, but so we - we know so much of what we've tried in the past hasn't worked, either". Again, there is no real plan.

"Facts are facts, America", she said on Twitter Monday.

"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", Hendrie pointed out.

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Representative Alexandria Ocasio-Cortez, Democrat of NY, leaves a photo opportunity with the female Democratic members of the 116th US House of Representatives outside the US Capitol in Washington, D.C., on January 4, 2019.

Several advanced economies around the world have top tax rates approaching what Ocasio-Cortez favors, and by many measures they enjoy higher standards of living than the U.S.

"In response, Ocasio-Cortez accused the senior statesman of being unaware of how marginal tax systems work", TheBlaze reported.

But what about the argument that high tax rates dissuade people from working?

"If you want to look up the very definition of fake news, look no further than the faux controversy over the AOC dancing video". But The New York Times, GQ, Newsweek and Ocasio-Cortez, among others, were quick to falsely claim that conservatives were somehow upset by the harmless video. "No one asked how we paid for a $2 trillion tax cut", Ocasio-Cortez said. "You don't have to know it when you step out, but before you start pooping on people and what they've done, you got to do something too".

After talking with several economic experts from across the political spectrum, Stein's reporting found that the 70 percent rate-if applied to the top.05 percent of income earners in the USA today-could generate an estimated $72 billion a year, or $720 over ten years. That would be almost enough to cover Bernie Sanders' plan to provide tuition-free college, estimated at a cost of $800 billion, for instance.

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