Tony’s Thoughts

Claim about taxing the rich / those with incomes over $10M by 70%..... Well, let’s face it – who can’t make a decent living off of earning $10M or more? Then again, how many of us know anyone who’s making more than $10M a year??? Anyone? Anyhow – here’s my take on this crap. First off – I get where she’s coming from…. especially someone who originally claimed that she can’t afford to live & pay DC rents. Trust me, I know what she’s talking about. HOWEVER – the notion that “the rich don’t pay enough tax” is absurd. Typically, when in a conversation with someone who says this to me… I immediately respond with…. “Really? You don’t think rich people pay a lot of taxes?” Usually, it takes them off guard. Then I follow up with…. “What do you consider a rich person?”.

Generally, I’ll get a few “Uhh…. I dunno, people making a lot of money, maybe $1M a year, or so”. Then I ask…. “Have you seen or worked on tax returns for anyone making a mill?”. That usually shuts them up.

Back to Ocasio-Cortez’s plan….. Ok, really, 70% tax? C’mon – she doesn’t realize that the person making this much $$ has already paid 40% tax between Fed, state, local taxes / let’s not forget there’s NO tuition credits, child credits, or credits for anything basically. So, let’s get off the high horse and speak with some common sense…...