I was just reading some stuff about that Cortz lady
Sorry I can't print her entire name
A couple things caught my eye
1: After her 1st day as a freshwoman in congress, She had a media following larger than Pelosie
2: She is forcing the Dems to adjust their policy. Warren has adopted a couple of her ideas as here own policy in her bid for president. Sorry I forget what it was as Corker also came out and supported something Cortez was pushing and there were others also.
3: She is pushing what she calls a marginal tax rate of 70% on income above 10 million annually. It was this 70% over 10 million that really got me interested. I would imagine most people would think 10 million annual income is enough and 70 % would fly with the majority of voters
I am mostly interested in the marginal tax rate, as I hope it does not morph into inheritance or capital gains taxes at some time in the future . That is the part that scares me. Many people think anything in the millions is enough and perhaps that kind of income tax might be acceptable to the majority
But capital gains etc could be the next step to the start of the slippery slope to re-distribute wealth. I think Cortez is a believer of re-distribution of wealth, even though she had an upper class back ground. My belief is: If I or my family took the risk and were rewarded, then we should be allowed to at least pass wealth along to family members, with out huge taxes.. I don't care if we started Campell Soup with multi miliions..We had to do something correct to make it work.
As it stands now my wife and myself spend more time on tax issues in our will than any thing else, trying to avoid the tax bill of our estate. Anybody that owns an average or below average size paid for farm in our area is a millionaire or multi millionaire. But that land should not be taxed for what it is worth on paper. It is a means to earn a living. I have always said, the person who wants to sell and collect the money can pay the taxes. Otherwise don't burden the next generation with a huge tax bill, if they just want to earn a living. We took the risk and bought the land. We went broke and started over again. We should be able to pass along what we risked for the gain. 2nd time was the winner, with some grown up some help from family who should also enjoy the fruits of their labour and risk.
I hope that Cortez lady and her ideas stay on your side of the border, but we always seem to copy what you folks do.
My inlaws worked their asses off on a farm for their whole lives. A good sized spread that they grew through hard work and smart decisions for decades. Made a decent living.. Never what most would consider rich. When they got too old, a year before my father in law died, the sold the farm.
The year they sold the farm, they became members of the 1%'ers the left hates so much. Capital gains taxes were massive.
But they are the truth of the 1%'ers. The vast majority are in that bracket for 1 year.
recently when asked about Roe v Wade cortez was overheard saying that is 2 good ways for illegals to get here legally
That lady scares me
Not so much as just one person. She is the wave of the future. It must be that our universities are brain washing students to believe the same stuff we hear Cortez talk about. The media already love her.
It is a guarantee that more of the younger generation will get elected to office. And they will have almost the same thoughts. I don't think this is just one person's thinking. If one person can affect the Dem policy, imagine how more numbers, in congress, will affect your country. Yes there will be some differences, but the over all theme will be for more social programs. The rich can't pick up the slack in gov't revenue, but they will try and it makes a good talking point. Green environmental thinking will become the gospel according to the media. We will tax the rich, and anything else that even smells of money
This will bust the deficit. No doubt about it. Those people will be taxing rich everything in sight, trying to make their talking points sound reasonable to the masses. If I make more than you do then the tax code will make us mostly equal. One persons rich will be different when the tax code is changed. For example: 100,000 per person will be considered rich, and taxed heavily, when they search for tax revenue and their voting base lives on average, maybe closer to 25-30 50,000.00/couple. We will continue to elect dummies as one person posted. In fact it has already started.
Nobody has to say what this tax regime will do for the incentive to work, maybe take a risk, make good decisions at your place of work etc. and enjoy the fruits of your labour.
And darn it. As I have said before, we copy what you folks do
Does anybody think I am being overly dramatic???
Yes Wayne that lady should scare you. But those that voted for her should scare you more.
one person's opinion
https://www.caseyresearch.com/doug-casey-on-alexandria-ocasio-cortez/