Ocasio-Cortez proposes taxing the rich at 70%


♪ ♪>>Raymond: WELCOME BACK TO “THE INGRAHAM ANGLE,” NEW YORK’S NEWEST CONGRESSWOMAN, SOCIALIST ALEXANDRIA OCASIO-CORTEZ, IN ADDITION TO MEDICARE FOR ALL, FREE COLLEGE AND A PLAN TO ABOLISH ICE, THE 29-YEAR-OLD NOW SAYS SHE WANTS TO TAX THE RICH TO PAY FOR THE LEFT’S ENVIRONMENTAL AGENDA KNOWN AS THE GREEN PLAN.>>ONCE YOU GET TO THE TIPPY TOP ON YOUR $10 MILLION, SOMETIMES YOU SEE TAX RATES AS HIGH AS 60 OR 70%. THAT DOESN’T MEAN ALL $10 MILLION ARE TAXED AT AN EXTREMELY HIGH RATE BUT IT MEANS AS YOU CLIMB UP THIS LATTER, YOU SHOULD BE CONTRIBUTING MORE.>>Raymond: HERE NOW, COREY LEWANDOWSKI FORMER TRUMP 2016 CAMPAIGN MANAGER AND COAUTHOR OF THE NEW BOOK TRUMPS ENEMIES — AND IN NEW YORK CITY PUBLIC ADVOCATE. BEFORE I GET YOUR TAKE, HERE ARE SOME TAXPAYERS REACTIONS. WATCH.>>THE 1 PERCENT DOES NEED TO BE TAXED MORE THAN THEY ARE BUT AT THE SAME TIME TRUMPS TAX POLICY IS HELPING THE ECONOMY IN THE ECONOMY IS GOING WELL.>>I THINK THAT’S FAIR.>>AT 70%?>>I THINK IT SHOULD BE MORE THAN IT IS.>>IT’S AT 39% NOW.>>THE TOP 1%, THAT’S NOT ME. THERE IS FAIR.>>SHE DIDN’T ASK THE ONE PER CENTERS OF HER PARTY WHAT THEY THINK.>>Raymond: IS THIS A WINNING STRATEGY TO TASK UPPER INCOME?>>INCOME INEQUALITY IS WORSE THAN IT IS THIS EVER IN AMERICA. AFTER A WALL STREET CRASH IN 1929, INCOME INEQUALITY WAS NOT THAT BAD. NEW YORK CITY IN PARTICULAR GENERATES MORE WEALTH THAN ANYONE ON THE PLANET BUT WE HAVE THE WORST INCOME INEQUALITY, A LOT OF THAT COMES FROM THE BILLIONAIRES.>>Raymond: DOESN’T THIS SAP OF THE INCENTIVE TO JOIN THE BILLIONAIRE CLASS, TO STRIVE FOR THAT, TO BE THE NEXT OPRAH, THE NEXT BLOOMBERG IT DOESN’T DEPRIVE YOU OF THAT INITIATIVE, IF YOU KNOW YOU’RE GOING TO BE TAXED IN NEW YORK A PLACE THAT YOU WANT TO RUN, IF YOU TOOK THIS 70% TAX RATE AND SLAPPED LOCAL TAXES ON IT, YOU’RE TALKING ABOUT AN 82.7% TAX BREAK.>>FOR THE 1% WHO HAVE HAD TAX BREAKS, HUNDREDS OF TRILLIONS OF TAX BREAKS WHICH STARVES OUR HOUSING AND SCHOOLS, OUR INFRASTRUCTURE, WE ARE TALKING ABOUT A DECREPIT CITY THAT GENERATES MORE WEALTH AND IT’S BECAUSE THE 0.1% ARE NOT PAYING TAXES.>>Raymond: THEY ARE PAYING TAXES. THEY ARE OPENING NEW BUSINESSES AND THE ECONOMY — THE REASON THE ECONOMY IS EXPLODING –>>OUR TAXPAYER DOLLARS ARE PAYING FOR IT.>>AND ANDERSON COOPER CHALLENGE TO HIS CREDIT CORTEZ.>>I THINK IT IS ONLY EVER BEEN RADICALS WHO CHANGE THIS COUNTRY, ABRAHAM LINCOLN MADE A RADICAL DECISION TO SIGNED THE EMANCIPATION PROCLAMATION, FRANKLIN DELANO ROOSEVELT MADE THE RADICAL DECISION TO EMBARK ON ESTABLISHING PROGRAMS LIKE SOCIAL SECURITY, THAT IS RADICAL.>>DO YOU CALL YOURSELF A RADICAL?>>IF THAT’S WHAT RADICAL MEANS, CALL ME A RADICAL.>>SHE’S BEEN IN OFFICE EXACTLY 24 HOURS AND SHE’S COMPARING HERSELF TO FDR AND JFK AND LINCOLN. THERE’S A LONG WAY TO GO BUT WHAT SHE IS ADVOCATING FOR IS A TAX RATE OF 83% IN CALIFORNIA, 84, 85% IN NEW YORK CITY TO A CLOSE PERSONAL FRIENDS LIKE MICHAEL BLOOMBERG. THEY ARE THE ONES WHO ARE GOING TO BE PAYING FOR IT.>>I DON’T KNOW WHAT YOU’RE TALKING ABOUT YOU LIVE IN ANOTHER UNIVERSE.>>Raymond: SHE JUST SAID THE RICH SHOULD PAY 70%.>>OH, NO, THE RICH HAVE TO PAY TAXES LIKE OTHER WORKING PEOPLE. WHAT STOPS WAS BILLIONAIRES FROM PAYING MORE RIGHT NOW? THERE’S NOTHING THAT PROHIBITS THEM FROM PAYING MORE? WHY CAN’T THEY IF THEY WANT TO.>>BECAUSE THEY’RE MAKING MONEY OFF THE BACKS OF WORKING PEOPLE.>>YOU MEAN LIKE JEFF BEZOS DOES?>>YES, LIKE JEFF BEZOS DOES.>>Raymond: 2.6 MILLION JOBS ADDED IN THE ENTIRE YEAR, YOU HAD WAGES GOING UP 3.2%, ROSA DeLAURO IN CONNECTICUT IS UP FOR HIKING TAXES, IS THIS WHAT WE NEED MORE OF AN MIGHT THIS THE ECONOMIC RENAISSANCE — CORY, YOU FIRST.>>DONALD TRUMP HAS CREATED MORE JOBS IN THE MANUFACTURING SPACE IN TWO YEARS THAN BARACK OBAMA DID IN TWO TERMS. IF YOU RAISE TAXES ON PEOPLE WHO ARE CREATING JOBS ARE GOING TO STOP CREATING JOBS. IF YOU RAISE THE INTEREST RATE THEY WILL STOP BORROWING MONEY, THAT HAS A TRICKLE-DOWN EFFECT. THE TAX POLICIES CUTTING TAXES FOR EVERYONE ACROSS THE BOARD HAS WORKED — IF YOU DON’T BELIEVE ME LOOK AT THE NUMBERS OF THE UNEMPLOYMENT RATE FOR HISPANICS AND AFRICAN-AMERICANS IN OUR COUNTRY, THEY ARE AT RECORD LOWS BECAUSE OF THE JOB CREATING OPPORTUNITIES.>>Raymond: I’M A LATINO, THE HISPANIC NUMBERS ARE AT THE BOTTOM HISTORIC LOWS OF UNEMPLOYMENT. YOU HAVE MORE WORKPLACE PARTICIPATION THAN EVER BEFORE. WHAT’S WRONG WITH THAT, IS THE ECONOMY WORKING?>>IT’S NOT THE ECONOMY WORKING. WAGES ARE LOWER THAN EVER AND YOU DON’T HAVE BENEFITS. PEOPLE ARE WORKING TWO JOBS BUT THEY’RE NOT ABLE TO MAKE THE RENT — RENT IS HIGHER THAN IT’S EVER BEEN AND WAGES ARE LOWER. IF YOU DON’T HAVE BENEFITS — MAYBE YOU SHOULD READ JEFFREY SACHS. WHEN YOU BREAK YOUR ARM AND YOU SUDDENLY ARE AND CORRUPT BECAUSE YOU DON’T HAVE HEALTH CARE, THAT IS WHY WHEN YOU PAY INTO MEDICARE, IT PREVENTS YOU FROM GOING INTO BANKRUPTCY. IT’S NOT JUST THAT WAGES NEED TO BE HIGHER, PEOPLE ARE WORKING MORE AND THEN THEY ARE GOING BANKRUPT.>>Raymond: CRIME IS DOWN, UNEMPLOYMENT IS DOWN, THESE ARE WONDERFUL THINGS. VERY QUICKLY, I’VE GOT TO GET TO ONE MORE.>>IF THIS TOOK PLACE UNDER THE OBAMA ECONOMY YOU BE PRAISING HIM AS THE GREATEST PRESIDENT SINCE LINCOLN — SHE ALREADY DID THAT. BERNIE SANDERS WANTS TO ADD 2.2% TO THE PAYROLL TAX AMONGST OTHER THINGS.>>TO GIVE PEOPLE HEALTH CARE?>>Raymond: I WANT TO QUIET FOR A MOMENT SO YOU CAN FIGHT OVER SOMETHING ELSE, LET’S GET YOUR THOUGHTS OVER HILLARY CLINTON MEETING WITH A POSSIBLE 2020 DEMOCRATS BECAUSE HER OWN CAMPAIGNS WENT SO SWIMMINGLY. SHE MET WITH KAMALA HARRIS, CORY BOOKER ELIZABETH WARREN ALONG OTHERS, WHY ARE DEMOCRATS COMING TO KISS THIS WOMAN’S RING? 36% APPROVAL RATING.>>IF YOU WANT TO MEET DONALD TRUMP YOU HAVE TO HAVE A WORKING PEOPLE’S MOVEMENT. TOO MANY DEMOCRATS THE MAJORITY OF STATUS QUO DEMOCRATS ARE WORRIED ABOUT RAISING MONEY AND WHAT DOES SECRETARY CLINTON HAVE? A LOT OF DONORS AND INFRASTRUCTURE THAT THEY THINK WILL GET THEM TO WIN AGAINST DONALD TRUMP. IF I’M SUPPORTING BERNIE SANDERS BECAUSE HE IS A MOVEMENT OF MILLIONS OF WORKING ACTIVISTS ACROSS AMERICA WHO ARE READY TO FIGHT AND HAVE BEEN FIGHTING FOR THINGS LIKE MEDICARE FOR ALL, CANCELLATION OF STUDENT DEBT AND A GREEN NEW DEAL.>>Raymond: SANDERS DID AWAKEN A GRASSROOTS MOVEMENT. IF I WERE ONE OF THESE DEMOCRATIC CANDIDATES I WOULD BE BEATING A PATH TO MICHELLE OBAMA’S HOUSE AND BECOMING HER BEST FRIEND GIVEN THOSE BOOK SALES. YOUR REACTION TO ALL OF THESE DEMOCRATS KISSING HILLARY’S RIN RING?>>BERNIE SANDERS HAD THE SECOND LARGEST CROWD OF ANY CANDIDATES BEHIND DONALD TRUMP, HE CLEARLY HAD A MOVEMENT BEHIND HIM. THE SYSTEM WAS RIGGED AGAINST HIM. THE ONLY RUSSIANS THAT WERE INVOLVED IN THE CLINTON CAMPAIGN WHEN SHE TOOK $5 MILLION FROM A LAW FIRM AND GAVE IT TO A BRITISH SPY TO PUT TOGETHER THE DOSSIER, THAT’S YOUR PARTY THAT DID THAT, LET’S BE CLEAR ABOUT THAT. THE BOTTOM LINE IS THIS — ANY CANDIDATE THAT IS LOOKING FOR HILLARY CLINTON’S ENDORSEMENT IS GOING TO LOSE. SHE RAN A TERRIBLE CAMPAIGN, TERRIBLE OPERATION IN PLACE AND SHE LOST A CAMPAIGN THAT EVERY PUNDIT THOUGHT SHE SHOULD HAVE WON.>>Raymond: I WANT TO SHOW MY PEOPLE THIS. HOT OFF THE LIVE STREAM BEER DRINKING DOWN TO EARTH TALK WITH REAL AMERICAN SENATOR ELIZABETH WARREN IS SPENDING A WEEKEND WITH VOTERS IN IOWA AND THERE’S A DRINKING THEME HERE, SHE’S IN A SALOON TONIGHT — HE SAID THIS JUST A MOMENT AGO.>>I’M NOT A CAREER POLITICIAN, I NEVER THOUGHT I’D RUN FOR ABOUT OFFICE. WHAT PULLS ME INTO THE FIGHT AS I GOT A CHANCE AS A KID. THAT CHANCE WAS BECAUSE TAXPAYERS INVESTED IN PUBLIC SCHOOLS.>>Raymond: WHO IS BUYING THIS? I’LL START WITH YOU.>>YOU KNOW THE OLD ADAGE IS THE POLITICIAN YOU WANT TO HAVE A BEER WITH, THAT’S WHY GEORGE W. BUSH WON AGAINST AL GORE. I HAVE A SIPPY CUP OF WINE IN THE BACK.>>ELIZABETH WARREN IS A TERRIBLE CANDIDATE AT TERRIBLE LAUNCH SO FAR, SHE LAUNCHED A TIME WHEN NO ONE IS PAYING ATTENTION, SHE TOOK A DNA TEST TO APPROVE THAT SHE IS NO MORE NATIVE AMERICAN THAN I AM, I’M NOT NATIVE AMERICAN AND I’M




Comments
  1. The 550 US billionaires together are worth $2.5 trillion. If we confiscated 100% of their wealth, we'd raise enough to run the federal government for less than 8 months.
    Perhaps our problem isn't how much billionaires have but how much politicians spend.

  2. Why do so many people have a hard time understanding marginal tax rates? If theoretically, it gets passed, the extra tax would raise $720 Billion over 10 years, which is peanuts compared to the trillions needed to support her proposed universal healthcare.

  3. I think we need constitutional amendment that says, you must have stated your own business (success or failed) before you can run for a political office.

  4. The rich are not to blame for income inequality. There is a problem in this country with "inequality in hours worked each week". Nobody wants to work anymore.

  5. Prices on what we buy will only go up if they do that. They never learn…. And just because you make more doesnt mean you should be forced to give more to the government. The rich paying less in taxes aint causinh anything to "starve" as she puts it all you gotta do is quit trying to have everything rely on the government and you wont have that problem.

  6. You better read Ayn Rands novel Atlas Shrugged. Socialism beats down the human spirit. Robin Hood was evil. He Stoll from those who earned it. And gave it away to bums

  7. Complex stupidity is so insane, let's try simple common sense: A capitalist society where there is a ( for example ) 15% FLAT TAX on every dollar earned.

    Whether you earn $5,000/year or $5,000,000,000/year, you pay no more and no less than 15% on every dollar you earn.

    The more dollars I earn, the more tax revenue I generate for society. The richer people are, the richer society will automatically be.

  8. Try taxing the rich at 70% in America. The Left will soon find that cash cow won't yield. There will be no more rich class because hell will freeze over before they work to hand over 70% of their earnings. They'll either stop working altogether or just leave the country to some tax haven and take their millions with them. I hear Monaco is nice.

  9. According to this stupid woman, if America's economy is so dire: Why are illegals clammouring to get into America? And why do Dems want illegals here if the economy sucks and there's no benefits for those already here? 😕

  10. I thought you were suppose to be awarded for your hard work, not punished so that someone can sit on their asses with welfare and not have to find a job. I’m sick of the Democrats

  11. To the people in the comment section,comparing these tax cuts to "communism" or those against it need to start seriously educating themselves. You call for "Making America Great Again" and yet fail to understand that when the economy was doing really well under FDR the taxes on the rich was 75%. America has exponentially grown its GDP over the years and yet the majority of the population has to work 3 jobs just to break even. Approx 70% of wealth is inherited, which refutes this idea of taxes being punishment for working hard. Vertical mobility is at an all time low in America,meaning that those working hard are not necessarily generating the wealth they justly deserve

  12. America must be destroyed…eat the rich…this interviewer is a jerk & probably beats his wife & has a secret underage boy lover in Thailand

  13. We did fine with a 93% marginal income tax rate in the 1960s, and the wealthy weren't exporting jobs to the detriment of the nation.

  14. So she claim that the "1%" don't pay taxes. Lets just say the taxes increase, and those "1%" still don't pay taxes….. So things still stay the same and nothing change at all. Why bother then? Instead of increasing the taxes, she should go and prosecute those irresponsible "1%" people that don't pay the taxes.

    Income inequality? Some jobs pay more than others because of the amount of responsibilities a person could have. Plus someone who manage to open up 5 different companies to do business and thrive is obviously will have more income then someone who does 5 different jobs.

  15. An organization taxing successful entrepreneurs ostensibly to provide some service was reprehensible when the mafia did it! Wake up and smell the tyranny!

  16. Middle class will be destroyed the rich know how to kerp thier money it wont effect the rich they will move cause they have money

  17. So if she believes in socialism don't everyone get taxed the same? She has so little knowledge as a highschooler I can do better than her

  18. FOX and Reps smear here. LOL ! They fear her.   AOC will MAGA. The end of dirty, old, corrupt and dated men is coming.

  19. Australia middle class pay 37% -45% income tax + add high taxes on cars in Australia 13% -54% . Audi s4 in Australia middle class buy is taxed $35000 . Middle class in Australia in reality is paying 70% to Government crooks down under

  20. People try defending this saying it’s only 70% of a dollar not 70% of 10mil. That’s still 70%! Morons! I responded to a comment on a Vox video wonder if it will get deleted. They tried to use that argument. I told them that they couldn’t even get the money from the rich cause it’s all off shore.

  21. I am far from being an economist; but, from where I am sitying, fair would be to tax Americans across the board at one set income tax. If I worked hard enough to become rich, I do not believe I should be penalized for succeeding in the American dream.

  22. The 50's and 60's were some of the most prosperous times in this country's history, and there was a 91% tax on people making 200k a year, that's around 2 mill today.

    70% on ten million would affect 18,000 people in this country.

  23. Why would anyone want to go to school, study hard, achieve a degree, so they could make a big check, only to make less than a normal factory worker? Getting zapped with a 70 to 85 % taxe rate on the earnings they make ? Liberal idiots live in a bubble. Their just stupid as hell..

  24. The income inequality are mostly the Democrats voter base that cant even graduate from HS Detroit is 47% functionally illiterate HS grads rates 21% Dam what do you expect from that

  25. they use taxation of the extreme rich to raise the taxes on the middle class…but the extreme rich know how get around these taxes to some degree but the middle class is stuck with a bigger tax burden….the middle class is the real target…the ten millionth dollllllaaaarrrrr is the excuse

  26. CORTEZ should switch CAREERS, like her buddy CARDI B!! CORTEZ would make a much better PORN STAR! Her 1st movie can be called, "CORTEZ SCREWS AMERICA" XXX

  27. You know why the 1% are so rich? Because they're really smart! If you think they'd be stupid enough to have taxable events and give away 70% of their income, then you're either dumber than a box of thumb tacks or you're AOC… so pretty much the same thing!

  28. should they even tax them? they are making jobs for people! if you tax them 70 percent doesn't it be discouraging to people to be entrepreneurs? they shouldn't even be taxed at all! they are already helping the society by making jobs and feeding people!

  29. what would happen to Pro-sports if we ground all airplanes? hell,they're all flying to London now for a three hour game.Where's the outrage?

  30. If you raise taxes for the 1%, you will remove the incentive to strive to be the 1%. This loud red jacket and oac should do her own taxes to discover that. I am at 25% now. It is difficult. I have no reason, no incentive to grow my business just to pay taxes. 10% across the board and stop over spending.

  31. If you close your eyes, AOC sounds like a cute little 11 year old girl with big ambitions….ambitions at the "tippy tops" DAAWWWWWW, precious.

  32. The mediator keeps interrupting her… what a waste to even go on a show like that …. Yelling at each other is not a proper debate.

  33. Dems have NO answers! How do the middle class get better insurance! F you to the Dems and the kissing of Hilarity ring! 8 years of Obama has killed the middle class! F you Dems!

  34. Nomiki is a liberal loon! The very wealthy didn’t get rich by being stupid and if their taxes are raised as high as the liberals want they will figure out a way to beat the system. How about all politicians taking a 90% pay cut? Politicians don’t work in the first place, they slop at the government hog trough and this goes for many of the civil servants too.

  35. this would tell ever person in the top 1 percent to shut down and leave the USA, leaving no one to pay AOC bills what world is lady living in

  36. Shes dumb. She thinks jobs are produced from thin air, and so does her belief with the world being made from nothing.

  37. As a New Yorker I for once agree with one of their guests. Rent is absolutely way to high. It’s extremely hard to work a single job and have an apartment. It’s sad that as a middle class worker, I can’t find an apartment that doesn’t eat up all my income while those on government programs live their best life in nice new buildings.

  38. According to Intuit (the creator’s of Turbo Tax) who gets its stats from the IRS, you are in the 1% as an individual if you earned more than $178,000 in 2018. Families (that is married filing jointly, and not every kid in the family too) hit the 1% at $412,000. (2018) The fact is that the mega incomes that Bernie and AOC talk about are exceedingly rare. Only 2500 families have Million dollar plus incomes. The other part of the snake oil is that in order to get the kind of money raked in that these two are talking about, is that 70% top marginal rates will flow down to about 20% on the working poor, and 30% on the $50,000 level and 40% at the $100K level and 50% on the $200K level and 60% at the $250K level, or some iteration of that. You can re-arrange the deck chairs, but that's what it takes to do Medicare for all and free college. That won't get close to funding the "Green New Deal". That is a dis-incentive to work, and if you consider that most of the high earners are self employed, and pay 15% self-employment tax, the 70% rate goes to 85%. We had a 70% top marginal rate under Eisenhower, we were paying off WWII bond debt, and spending like crazy to rebuild Europe. Kennedy cut the rates to 50% of incomes of $50,000 or more. (The average income at the time was around $6500). The economy boomed until print-and-spend Johnson became president.

  39. The woman on this interview is as clueless as AOC. It's truly scary. I hope she's just a liar. That would be less scary than her actually believing the s**t coming out of her mouth. Scary stuff

  40. OK horse face…what happens when the "rich" are drained? Who constitutes the rich? Anyone with a job? I don't believe this idiot has reached the apex of her stupidity…but she's very close.

  41. Yes as l was going to say, they will go overseas and take their business to a much better country who don't steal other peoples money. The rich gives people jobs stupid, this is why her area is broke, what is wah wah wah she is not in college now. she is so dopey, they didn't work in a bar, because no one else would give her a job.

  42. The top rate on personal income tax rate was 70% or higher in the following years:

    1918-21
    1936-81

    In 1959, under a Republican POTUS, the top rate was 91% (which was the case 1946-63). An income of $5.2M would have owed tax at an effective rate of 90%. The dividend income on a stock portfolio of $150M+ would have equaled or exceeded $5.2M.

    These facts were uncontroversial at the time, probably because the USA was seen as emmeshed in a Cold War that shed very little blood, but that was enormously expensive. Technological spillovers from this Cold War included jet and turboprop aircraft, integrated circuits and the start of the IT revolution.

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