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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What I want to know is why are they holding these interviews outside in the freezing cold?

Author — ballhawk23

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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.

Author — J

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why would someone want to be successful in building a business under AOC"S proposal?

Author — Eric Wood

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

Author — Amigo Kandu

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Move the company then, loose the jobs in the usa

Author — David Gagliotti

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

Author — Troy Thomas

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PIGLOUSY AND SCHMUCK JEWMER ENEMIES OF THE STATE
omar and occasional cortex just more of their evil

Author — ardy texn

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She also things unemployment is low because everyone has two jobs even though that's not even close to how that works

Author — Preston CSGO

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Applying all that Taco Shoppe work experience accumulated and became incessant oral flatulence and gangster hand signs

Author — Hildebeast Clinton

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The wave of the future box of rocks + 3

Author — Jeffrey Ferguson

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Nah. Individuals and corporations are smarter and especially faster than the government. Jack up tax rates like this and you'll end up giving the government another taste of money which will ultimately effect middle to lower class who don't have the same tax lawyers who save the money of the uber rich. Sorry bout it.

Author — Cowdizzy Comedy

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Sir, you have to stop using big words when it comes to AOC, she's still at the "Curious George"stage of reading levels.maybe Dr Seuss level, who knows.

Author — Kathy G

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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

Author — Dirk Simmang

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Lol lol lol. She has no clue what's she is saying. She is a elitist. You don't see her living in a poor
Nope she wants your money to pay for her luxury high rise.

Author — K K

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Socialism has robbed the economic future of millennials. All of the programs have been based upon a Ponzi scheme from Social Security to Obamacare. The entire foundation of socialism is constructed on taking other people’s money. Naturally, they always point the finger at the rich. But the social programs are really based upon one generation paying for the previous. In Europe, they call them the “Lost Generation” because unemployment is running at 50-60% levels among the youth. If we simply add up what we have all paid into these programs with inflation over our lifetimes, whatever we eventually receive back is a fraction of the real wealth we contribute.
The Ponzi scheme of socialism is coming to an end. It has wrongly deprived the lower class of investing, for the money taken from them for their future is restricted to government bonds. The rich get rich, not from wages, but from investments — the very thing governments deny the lower classes.

Author — Realitycleans

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There ain't nothing marginal about 70%

Author — dev forever

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Go buy a calendar!...THE Next DEMOCRATIC U.S. PRESIDENT IS ELECTED IN 2032. 2024 TO 2032 MIKE PENCE SERVES AS POTUS.

Author — Edward Miller

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was her 10M dollar nextflix deal signed when she
worked out this new-paradigm?

Author — Jack Vai

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70% tax for $10mil + "Green New Deal" = Booming economy on a futuristic scale.

Author — Michael J.

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Socialism is only a word, once enacted it immediately becomes communism. Be prepared to row row row their boat.

Author — Dusty Rhodes