Tippy-Top Taxes For The Wealthy

In the following audio, Elizebeth Warren uses a term coined by Alexandria Ocasio-Cortez:

  • You look at our tax rates back in the ’60s and when you have a progressive tax rate system. Your tax rate, you know, let’s say, from zero to $75,000 may be ten percent or 15 percent, et cetera. But once you get to, like, THE TIPPY TOPS — on your 10 millionth dollar— sometimes you see tax rates as high as 60 or 70 percent. That doesn’t mean all $10 million are taxed at an extremely high rate, but it means that as you climb up this ladder you should be contributing more. — AOC

Here is Senator Warren Tweeting it as well as you hearing it below:

I presume they are trying to explain Marxism to Millennials? Senator Warren and Senator Harris are just trying to outdo the crazy chica from “the Bronx,” *She Guevara.

Now “TIPPY-TOP” and words like “fair” are dog-whistles for Communism. Here is audio of Kamala Harris and Elizebeth Warren trying to bankrupt the country:

Larry Elder a while back showed how this didn’t work… and it will be no different decades later:

 

* In one of the funniest posts in a while, TWITCHY want to shorten Alexandria Ocasio-Cortez’s name:

We need a nickname for Alexandria Ocasio-Cortez. It’s too long to type it all out. Post your suggestions here….

  • “She Guevara”
  • “Bolshichick”
  • “Bolshevik Barbie”
  • “Alex from the East Bloc”
  • “Bronxhevik”
  • “MARXandria”
  • “MiLENINal”

“Soak the Rich” Luxury Type Taxes Kill Jobs ~ Larry Elder

Via Pantagraph.com

The talk coming out of Washington these days sounds like 20 years ago when “soaking the rich” was thought to solve budgetary problems. As a result, a 10 percent luxury tax was imposed in 1990 on high-end yachts, planes, etc. Democrats such as Sens. Dick Gebhardt and Ted Kennedy were saying back then the same thing Democrats are saying today: The super-rich need to pay “their fair share.”

So, what happened to the infamous luxury tax? The rich simply avoided the tax by buying yachts and planes elsewhere — not in the United States. By 1991, an estimated 25,000 blue-collar jobs were lost in the boat-building industry — not to mention job losses in the plane industry and elsewhere. Many companies went out of business.

Expected tax revenues fell far under projected levels. Congress recognized its folly and repealed the luxury tax in 1993 — but not until thousands of jobs were lost and could not easily be regained.

Democrats today still have not learned the lesson. Soaking the rich does not help budgetary problems. It only eliminates badly needed jobs.

If the financially successful in this country do not see a future for their companies due to a negative business climate orchestrated by Democrats, there will be no business expansion — and correspondingly there will be no jobs forthcoming.

So why do Democrats continue their “soak the rich” rhetoric when it doesn’t work? They still haven’t learned the truth found in the old saying: Don’t kill the goose that lays the golden egg.