Comments by "Michael RCH" (@michaelrch) on "Ocasio-Cortez proposes taxing the rich at 70%" video.

  1. Google Laffer curve. We are way way below the optimal tax take in the US and inequality is terrible. The rich are rich because of the work of their employees. No one is worth paying $100M a year in actual value when others are paid $20K. This is the rigged system. The rich have created a system where their pay goes up and up and everyone else's stay the same. Execs in Japan are paid 10% what they are paid in the US and Japan has huge multinational corporations just like the US. Exec pay is detached from economic value. It's no more than a system for extracting wealth from every else - from you and me.
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  2. jonathan park The reason the rich don't pay taxes is because the political class lets them avoid taxes. If you don't think the government has the power to enforce tax rises then why worry about them being passed in Congress? If they only hit those on $10M a year or more then they won't hurt the middle class will they? Indeed, the number of people affected by a tax rate at $10M a year is tiny. Yes, there are lots of ways of avoiding tax offshore but if the US government set rules on global tax compliance then others would follow. The EU has made this work on secrecy laws. They led a movement that forced pretty much every tax haven to comply with international transparency rules and this has ended banking secrecy in dozens of jurisdictions from Switzerland and Lichtenstein to the BVI. I find your council of despair unconvincing. It sounds more like a libertarian ruse to give up on better governance.
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  3. It's amazing how the rich have deceived so many of the rest of us that they should go on getting richer and richer while everyone else goes nowhere. Real terns middle class wages have not increased in decades. All the benefits of economic growth are going to the rich. All the data shows this. Tax cuts have not driven growth in middle class wages. The Trump tax cuts went into stock buy backs and executive pay and dividends NOT INVESTMENT AND NOT JOBS OR WAGES. Stop voting against yourself. The rich are laughing at you all the way to the bank.
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