Yesterday, as soon as Bernie announced his wealth tax proposal-- something he's been working on long before he ran for president in 2016-- Thomas Kaplan was working to undermine its authenticity for NY Times readers by insinuating he was just trying to one-up Elizabeth Warren.
The Morning Consult poll released by Politico this morning shows an electorate moving sharply left... at least on taxing the super-wealthy. The two party establishments may not like the progressive tax reform ideas Bernie, Elizabeth Warren and AOC are bringing up, but the voters do-- overwhelmingly. The Morning Consult poll shows 76% of registered voters believe the wealthiest Americans should pay more in taxes.
Last week, even before Elizabeth Warren announced her wealth tax plan, I went back and forth with Alan Grayson about the constitutionality of the whole concept of a wealth tax. The original wealth tax post we ran about it on Thursday left out the constitutionality piece from the Institute on Taxation and Economic Policy report, the assertion that it would be constitutional.
I wish that crazy Trump would just settle down and go spend his days playing golf again so AOC could get Congress working on a sensible agenda. You know who's work I'm really enjoying? Eric Levitz at New York Magazine. Once a poetry lecturer at Johns Hopkins, this guy has been writing excellent essays on the nexus of where politics meets the world of finance.
As I've been explaining, Alexandria Ocasio-Cortez's 60-70% marginal tax rate on all annual income over $10,000,000 would struggle be be called moderate. It's actually quite conservative. How many people have annual incomes of over $10,000,000? And those very few people who do, would only have to pay the 60-70% rate on the income over $10,000,000. That threshold is absurd and should be down around $800,000 (with perhaps a 40% rate) then rise to a million dollars with a 50% rate and climb gradually (rates increasing) towards $5 million will the top rate-- 80% kicks in.
I do NOT endorse Donald Trump. I am Green. I hope and expect Jill Stein to be the Green Party’s nominee for president, and I heard a hashtag idea I like, #BernieOrGreenIn2016.
I despise Trump’s (and anyone’s) blaming of immigrants for everything from terrorism to bad schools to lack of jobs and lousy economic conditions. If this causes you to ask, “Why are you writing this blog?” you will see that addressed further down.
What DO I like about Donald Trump?
