Alexandria Ocasio Cortez has become the youngest Congressman in US history, and very quickly became the enemy of the lobbyists. Now she has her own hate neon sign in Times Square.
Since last Wednesday, the democratic members of Alexandria Ocasio Cortez, in short the AOC, its own illuminated advertising on Times Square in New York. “Thank you for nothing, AOC!”, the lobby group of Job Creators Network (JCN) scolds. You paid a lot of money to pay it off, the shooting star of the US policy home, that they had driven off Amazon. The online retailer had withdrawn a few days ago, his Plan, his new headquarters in New York City.
The retreat had justified it with the strong resistance of local politicians. Alexandria Ocasio Cortez had spoken out clearly against Amazon, the new headquarters and its 25,000 employees would Rent and prices are rising, and the infrastructure such as the Subway overwhelm. Opponents such as the JCN criticize, Amazon would have created new Jobs. JCN is financed in part by the Mercer family (the group of billionaire Robert Mercer was one of the most important supporters of Donald trump’s campaign), and conservative interests groups that in turn are supported by the right of the media Breitbart News.
For some, a hate object: Billboard at Times Square in New York
Corporate America is shaking
All of them have the fear. Wall Street, corporations, lobbyists, rich Americans. After Donald Trump has driven the regulation of the financial industry and the taxes reduced, want AOC to all of you now on the collar. “It’s scary,” said Scott Minerd of Guggenheim Partners about the plans in an Interview at the world economic forum in Davos this year. You embossing the “new political Era” as anyone else, writes the Wall Street Journal’. Dance Videos, alleged Nude photos, the grid is not getting enough. You Google your name, you get 39 million results, under the symbol AOC even 100 million. On Twitter, she has reached at breakneck pace of more than three million Followers. And Americans are starting to heat up for your ideas.
What AOC wants?
Ocasio Cortez wants to raise the top rate of tax on assets of more than ten million dollars to 60 to 70 per cent, currently approximately 37 percent. In 2016, the last year for which government data are available, earned approximately 16,000 Americans each have more than ten million dollars. The tax system in the USA is taxed, however, parts of the respective income. The 70 percent would not apply to tens of millions of dollars, but each Dollar above ten million. The big banks want to split Ocasio Cortez. The industry is also alarmed because AOC is sitting in the Committee of the house of representatives that oversees the financial industry and regulated.
What do you mean Plan?
This is tantamount to a Declaration of war on capitalism and Wall Street. Two systems that are deeply rooted in the country. Since the tax reform of Ronald Reagan, both Democrats and Republicans have shied away prior to the issue of tax reform. Even the democratic candidate Bernie Sanders, who will compete in 2020, in the election campaign of 2016, with a top tax rate of 52 percent. However, Ocasio Cortez has with your ideas to great success. She won the election in her New York constituency of the house against an incumbent candidate.
For other almost a Saint: graffiti on a wall in New York
Not-so-radical
But as radical as you and others believe it, are not your ideas. AOC referred to himself as a socialist and gives the Republicans a fighting word. In fact, your ideas are according to the German scale is much more social democratic in nature. You want to tax the Rich and so, for example, Medicare and Medicaid Fund, the government health insurance for low-income earners and older Americans.
“Socialism” and “lipstick”
The Definition of what AOC is, seems to become blurred. Maybe it’s because the world is looking for so desperately for words to describe the New Yorker. The media like to select allusions to Appearance and age, as young or attractive, and to write about red lipstick and big earrings. The ‘Wall Street Journal’ writes that she was direct, enthusiastic. ‘Bloomberg Business Week’ calls it a media-genius. From the economy, the words socialist, come, radical, UN-American. From the right side of the political spectrum critical of the fact that she has worked a few months ago behind a Bar, and not competent whether. All of this culminates in: This woman is relevant.
Opponents in politics and the economy
The CEO of the investment Bank Goldman Sachs, Gary Cohn, and Ex-Starbucks chief Howard Schultz make no bones about it, what do you think of AOC. Your kind of thinking is UN-American, says Howard Schultz. Cohn believes that their plans would damage the economy as a whole. Even Donald Trump ranted in his state of the Union speech, the United States would never be a socialist country.
The panic has long since been used
AOC would be the American dream to undermine, to make it from rags to riches, says Schultz. “I am the living proof of the American dream.” He grew up in a Council estate in Brooklyn. His fortune is now estimated at $ 3.5 billion. Self-philanthropist, Multi-billionaire and Microsoft founder Bill Gates said in an Interview that high taxes would only lead to the Rich to move their money to foreign accounts and to evade taxes. Investment banker Ken Moelis said, according to ‘Business Insider’ at the world economic forum in Davos, Switzerland, to tax the income from tens of millions of the best, would not generate enough tax revenue, and prophesied, at the end income of 200,000 to 300,000 dollars would be 70 percent of the VAT paid.
High taxes are nothing New for the USA
Forget decades seem to be the history of the US tax system. In fact, top tax rates of less than 50 percent in the United States are a rather recent phenomenon. At the end of the 1950s, the top tax rate was 90 percent. Economist Paul Krugman describes in a guest article in the ‘New York Times’, that high taxes have done to the economic growth in the past, no crash. The data from the Tax Policy center, in support of his statement. “AOC is fully in line with reputable economic research,” writes Krugman.
And found out that the optimal top tax rate is even higher. The optimal tax rate takes account of the economic growth developed under a tax rate. And this, again, depends on how the top tax rate-taxed individuals would react. You would deliberately less, a lower-wage to negotiate, or try to generate more income from capital, would have inhibited economic growth. Economists call this to Customize the behavior of “elasticity”. Have a look at the Economists Thomas Piketty of the University of California-Berkeley, and Stefanie Stantcheva of Harvard in more detail. Your study comes to an optimal rate of 83 percent, without the evasive reactions of taxpayers, and trigger. Since air is so still to the top.