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Phoenix68

Getting Schooled By Ocasio-Cortez

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Of course, it's a Republican!

 

 

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Teaching Rookies About The Marginal Tax-Rate

January 9, 2019

 

"This weekend, “60 Minutes” aired an interview with the self-described “radical” rookie Democratic Congresswoman Alexandria Ocasio-Cortez. In it she proposed hiking the top marginal tax rate to fund green energy inve$tment$.

 

As she explained:

 

“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 10 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.”

 

Republican Congressman Steve Scalise quickly took to Twitter to register his objection: Republicans: Let Americans keep more of their own hard-earned money. Democrats: Take away 70% of your income and give it to leftist fantasy programs.”

 

Ocasio-Cortez tweeted back: Youre the GOP Minority Whip. How do you not know how marginal tax rates work?”

 

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50 minutes ago, MidnightMax said:

I guess that is WHY Democrap PRESIDENT KENNEDY CUT THE MARGINAL TAX RATES so that ECONOMIC GROWTH in the 60's BOOMED, huh???

 

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Who knew Scalise actually had a groupie??

I figure.....people should see what has you (and, Stevie-Boy) so confused....

 

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Quote

 

"Suppose you are half of a married couple filing taxes jointly; the two of you report your combined incomes, that is. Further suppose, God willing, that you earned $610,000 last year, after all exemptions and deductions. In that case, you will be in the top marginal tax bracket of 37 percent: the bottom line above. But that does not mean your income is being taxed at 37 percent. By the same logic, it would not be taxed at 70 percent if that were the marginal rate, as Scalise incorrectly suggested.

 

In fact, for those who like arithmetic or just want to understand the simple math behind their own earned income tax bill, the total IRS tab on a $610,000 joint income would be the following:

 

$1,905 (10 percent of $19,050)
+$7,002 (12 percent of the next $58,350 you earned)
+$19,272 (22 percent of the next $87,600 you earned)
+$36,000 (24 percent of the next $150,000)
+$27,200 (32 percent of the next $85,000)
+$70,000 (35 percent of the next $200,000)
+$3,700 (37 percent of everything earned above $600,000)
= a total IRS bill of $165,079

 

Remember that I’ve given you an earned income, adjusted for exemptions and deductions, of $610,000, So what percentage does your tax bite of $165,079 represent? You don’t even need a calculator for this, but I’ll use one anyway. The answer: about 27 percent.

 

You get the distinction, right? Your top marginal rate is 37 percent. But you’re only paying 27 percent in taxes because it’s a “progressive” tax system. As you make more, your tax rate progresses into tax “brackets” where the rate on your marginal income — the income above that margin — gets higher.

 

 

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16 hours ago, Phoenix68 said:

Of course, it's a Republican!

 

 

 

lol....she is being blocked from all committees.....the 1% DNC ESTAB is already BERNIE-IZING her.   So fun to watch.  Stalwart Liebermann also stalking her.  This is great!!!!

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Just now, CrimeaRiver said:

lol....she is being blocked from all committees.....the 1% DNC ESTAB is already BERNIE-IZING her.   So fun to watch.  Stalwart Liebermann also stalking her.  This is great!!!!

Not, just great.

But predictable.

DC will never allow a far left populist to enter their fold.

 

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1 minute ago, Whitemajikman said:

Not, just great.

But predictable.

DC will never allow a far left populist to enter their fold.

 

Yes.  And the irony is how "lefty" all these morons here think they are....so delicious

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Do you suppose she is offering the same deductions as they had when the rate was that high before?

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11 minutes ago, Whitemajikman said:

Not, just great.

But predictable.

DC will never allow a far left populist to enter their fold.

 

"It Sure Looks Like Ocasio-Cortez Just Copy-Pasted an Old Bernie Bill"

 

"Ocasio-Cortez – Occasional Cortex, as she’s known, because she’s so thick she doesn’t even know how stupid she is – is the lipstick, obviously."

 

Rep. Alexandria Ocasio-Cortez, D-N.Y., laughs out loud as she talks with other new House members on the opening day of the 116th Congress, at the Capitol in Washington, Thursday, Jan. 3, 2019. (AP Photo/J. Scott Applewhite)

 

 

https://www.breitbart.com/politics/2019/01/10/delingpole-the-green-new-deal-is-lipstick-on-a-pig/

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Only thing Cortez schools is just how corrupt society trained its cast of characters for the next generation of politicians lost in the philosophies of anything is possible and psychologies of mind over matter counts regardless matter being perpetually balancing universally here now. the latter explains specific gravity to each detail compounding like never before so far.

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41 minutes ago, Phoenix68 said:

 

Didn't do too-well, last-time-around, did you??

RIDE THE BLUE TSUNAMI!!!!!

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27 minutes ago, CrimeaRiver said:

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neither did Bernie...lol

 

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Yeah.....I'm sure it was a real chore, for you Ruskies.....herding-around deferential (to the Soviet-groupies) Teabaggers/Trumpoids.

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2 minutes ago, Phoenix68 said:

 

 

 

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Yeah.....I'm sure it was a real chore, for you Ruskies.....herding-around deferential (to the Soviet-groupies) Teabaggers/Trumpoids.

Gutted the LIB PIGQUNT???

 

Dead the FATRESS?

 

Gutted McFainty?

 

Seizy McFally?

 

Coughy McDEAD?

 

lol

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I remember Obozo's "green energy investments"...….worked out well for his donors, lousy for the taxpayers.

 

This chicks a moron......good to see her own party eschewing her stupidity.

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3 minutes ago, LaughinAtLefty said:

I remember Obozo's "green energy investments"...….

 

So do the educated 65%ers, by now, too......

 

 

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5 minutes ago, Phoenix68 said:

 

So do the educated 65%ers, by now, too......

 

 

 

The numbers from Obozo's "green energy" fiasco are appalling, just like the donors he repaid via his "green energy" program with taxpayer dollars - contributing to his record doubling $10+ Trillion in debt......plus interest.....which is rapidly approaching a point where it will be the biggest cost to the government (i.e. taxpayers).

 

Occasional cortex is already being significantly marginalized.....enjoy your wet dream while it lasts.

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9 minutes ago, LaughinAtLefty said:

The numbers from Obozo's "green energy" fiasco are appalling.......

 

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.....You just forget where you put them, right??

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5 minutes ago, BullConnor said:

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So Occasional-Cortex is a “Like-Sayer” as well as being dumb. 😁

 

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Really helpful, there....Gobbler....er, Goober.

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4 minutes ago, fishhead said:

Cortez will make a fine president sooner than the inbred retards think.

Is it 7 years before she can even run as 35 years old is the first age a person can run. That puts off her running until 2028. Way things are going, America will be rebranded and reconstituted by then.

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Ocasio Cortez has definitely exceeded my expectation. She has normalized ideas that have long been considered off limits in American politics among mainstream politicians. Good for her. 

 

 

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43 minutes ago, Olivaw said:

Ocasio Cortez has definitely exceeded my expectation. She has normalized ideas that have long been considered off limits in American politics among mainstream politicians. Good for her.  

 

Yeah.....we might (FINALLY) be shedding the coma-like malaise of the Reagan years!!

 

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October 2011

 

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