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Alexandria Ocasio-Cortez and Ilhan Omar tout taxation myths Daily News

https://www.dailynews.com/2019/03/13/alexandria-ocasio-cortez-and-ilhan-omar-tout-taxation-myths/
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Mar 13, 2019 12:46 PM 1+ mon ago

Alexandria Ocasio-Cortez and Ilhan Omar tout taxation myths

Suddenly, 70 percent tax rates are a progressive plan, although Rep. Ilhan Omar added, "We've had it as high as 90 percent."

That was the top tax rate when I was a kid, and today, many Democrats say if we'd just raise rates on rich people, government would have plenty of money to pay for our wonderful programs.

But it's a myth. What progressives don't say, perhaps because they don't know it, is what economic historian Dr. Phillip Magness explains in my new video: "No one actually paid anywhere close to those rates."

For more than a decade, Magness has researched old taxes.

He discovered that America's 90 percent tax bracket didn't bring in much extra money. That's because rich people found loopholes.

Then, because of that, and because the high tax rates discouraged work, President Kennedy backed a bill that lowered the ...

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Alexandria Ocasio-Cortez and Ilhan Omar tout taxation myths

Alexandria Ocasio-Cortez and Ilhan Omar tout taxation myths

record-bee.com     1+ mon ago

Suddenly, 70 percent tax rates are a progressive plan, although Rep. Ilhan Omar added, "We've had it as high as 90 percent." That was the top tax rate when I was a kid, and today,...

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Nancy Pelosi sees herself in Alexandria Ocasio-Cortez and Ilhan Omar

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The new representative for Minnesota's Fifth Congressional District wants to significantly raise taxes on the wealthy. Declaring that "the 1 percent must pay their fair share," Rep...

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dailycamera.com     2+ mon ago

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Alexandria Ocasio-Cortez and Ilhan Omar Accidentally Wore the Same Outfit to Congressional Orientation

yahoo.com     4+ mon ago

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