Here are two things that you need to know to understand politics in 2019:
1.) Incoming socialist Congressional Representative Alexandria Ocasio-Cortez is now known as "AOC" by the media (it's cheesy, but it's easier to say and write than her full name).
2). AOC thinks a 70% tax is a good idea and her supporters to do too.
Last night Rep. Alexandria Ocasio-Cortez spoke to Anderson Cooper for an interview with 60 Minutes to reveal how she plans to fund her environmental agenda known as the “Green New Deal”.
Short answer: with remarkably high tax rates for the upper class.
Ocasio-Cortez suggests that people should be doing more to pay their “fair share.”
When Cooper pressed on how she could possibly pay for the deal, she said we will see tax rates as high as 60% or 70% for the upper class.
AOC is a freshfaced young lawmaker who wants to go after wealthy people. But what AOC fails to realize is that wealthy people are smarter than government lawmakers (especially socialist lawmakers). Wealthy people can hire tax attorneys to move around their assets and find ways to give less to the government, even if it means picking up their entire business and moving to another country.
If you don't believe me, consider this: last year 1800 companies left the state of California. But they didn't leave the state because of the warm weather and large coastal access; businesses left California to avoid high taxes and regulations.
Alexandria Ocasio-Cortez clearly isn't an economics experts (which is remarkable, because she studied economics in college). If she actually succeeds in advocating for a 70% income tax for the super wealthy, the super wealthy will leave the United States faster than you can say, "socialism sucks."