Wall Street Weighs In On AOC's Proposed 70% Marginal Tax Hike | Davos 2019

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Wall Street Weighs In On AOC's Proposed 70% Marginal Tax Hike | Davos 2019 3.5
One of the hottest topics at the World Economic Forum in Davos, Switzerland has been Alexandria Ocasio-Cortez's proposed 70% marginal tax rate on all income above $10 million. There have been many headlines out of Davos with business leaders calling the proposed tax disastrous, scary, and saying it will have a huge impact on the economy. We sat down with three financial heavyweights to find out what they think everyone is missing about this discussion. The general consensus was that while such a hefty tax would hurt the economy, it simply doesn't effect enough people to be a major issue.

Moelis & Co. founder and CEO Ken Moelis says there isn’t a problem with a high tax on income above $10 million dollars because there isn't that much income to tax above that level. Marginal tax rates need to start around $250,000 in order to have an impact.  And a 70% tax rate at that level "would crush the economy."

Guggenheim Partners global CIO Scott Minerd agrees that the amount brought in by a 70% tax above the $10 million income level won’t make enough of a difference even if you assume people will pay it. But Minerd says historically when we have had high marginal tax rates wealthy people have sheltered their income.

Bob Prince, the co-CIO of Bridgewater — the largest hedge fund in the world — says this tax won't be good because it won't solve many problems.

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Wall Street Weighs In On AOC's Proposed 70% Marginal Tax Hike | Davos 2019

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How can we save the economy? Not be socialist.

Автор — Chris H.

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Socialism works until you run out of OTHER PEOPLE'S Money to spend.

Автор — Amigo Kandu

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Lucky for AOC there is no stupidity tax.

Автор — James Simmons

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Ironic... she’ll find a way to ‘tax the rich’ but leave congress as a multi millionaire, live in a gated community, have tier one health care, private schooling for her kids, and a security detail, while exempting herself from all the laws us peasants have to obey. Just like the rest of the rotten crooks in government.

Автор — J

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I’m surprised Business Insider published a piece that exposed the nonsensical and pointless ideas of AOC.

Автор — jason starek

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I swear everytime I hear something about AOC, it makes me lose more brain cells.

Автор — Kratos Meng

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Why don't poor people stop worrying about what rich people have got and try to become one of them without asking for handouts.

Автор — J P

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Does anyone remember that AOC was BARTENDING literally 8 months

Автор — The Great Attractor

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Any businessman making more than 10 million a year already has a good enough accountant to beat her clumsy and childish idea.
She should stick to her previous job as a waitress...

Автор — generalzod4life

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Frickin 70 percent tax. Those people would leave America, and jobs would be taken away. She is actually an idiot. The economy would be decimated.

Автор — Quackquaak

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Move the company then, loose the jobs in the usa

Автор — David Gagliotti

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"The American people will never knowingly adopt socialism, but under the name of liberalism, they will adopt every fragment of the socialist program, until one day America will be a socialist nation without ever knowing how it happened".

-- Norman Thomas
Socialist Candidate for President of the United States 1944

Автор — Dirk Simmang

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AOC makes $175, 000 per year without kickbacks. Let's ask her what she thinks her tax rate should be.

Автор — Blll D

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France did the same thing!
90% of millionaires runed away!
Now the country is bankrupt!!

Автор — Justice Warrior

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I’m shocked that a 29 year old Socialist bartender doesn’t understand how the economy works.

Автор — J Kemp

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i'm confused, they're interviewing wall street CIOs and CFOs about this lol... what do you think they would say LOL...

Автор — Alex Karthik

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If a bum on the street says tax everyone at 70 percent why would you even entertain it. That woman knows nothing about economics and her opinion on anything should be just laughed at and not talked about. He was elected in the Bonx by 2600 people mostly hispanic running against a white man. Come on don't you understand she doesn't belong or even have the skills to be there.

Автор — Da R

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They would just move their business and money out of the US.

Автор — Troy Thomas

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HOW TO CREATE SOCIALISM THAT LEADS TO MASS MURDERS BY THE POWER POSSESSORS---There are 8 levels of control that must be obtained before you are able to create a Socialist/ Communist /Oppressive state. The first is the most important.

1) Healthcare – Control healthcare and you control the people
Demorats did this with Obamacare!

2) Poverty – Increase the Poverty level as high as possible, poor people are easier to control and will not fight back if you are providing everything for them to live.
Demorats love doing this to us!

3) Debt – Increase the debt to an unsustainable level. That way you are able to increase taxes, and this will produce more poverty.
Demorats do this to us every time they are in power!

4) Gun Control – Remove the ability to defend themselves from the Government. That way you are able to create a police state.
Demorats are trying to do this and are succeeding in several states!

5) Welfare – Take control of every aspect of our lives (Food, Housing, and Income)
Demorats are doing this as we speak!

6) Education – Take control of what people read and listen to – take control of what children learn in school.
Demorats have removed our real history. Look at what the so called professors are really teaching in the colleges. Mostly that their political views are all you need!

7) Religion – Remove the belief in the God from the Government and schools.
Demorats are doing this at an alarming rate!

8) Class Warfare – Divide the people into the wealthy and the poor. This will cause more discontent and it will be easier to take (Tax) the wealthy with the support of the poor.
Demorats keep saying how bad it is to be rich. So where is the incentive to do great for yourself?

Any of this sound familiar?

Автор — Em Gee

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MABA...Make Alexandria a Bartender Again.

Автор — Beri Gorsuch