Getting fleeced is only the start.
Americans For Tax Reform report that the “Ocasio-Cortez Tax Plan Creates 82.7% Top Income Tax Rate for New Yorkers.” Whoa! Let’s see how many good New York and California (83.30% tax) liberals jump on that train to nowhere.
New York State has a top income tax rate of 8.82 percent while New York City has a top rate of 3.876 percent. So under this proposal, her constituents would pay a top combined income tax rate of 82.7 percent:
Federal income tax rate: 70.0%
NY state income tax rate: 8.82%
NYC income tax rate: 3.876%
New Yorkers would not be the only ones suffering under the Ocasio-Cortez plan. California taxpayers would pay a top rate of 83.3 percent (70 percent plus the California rate of 13.30 percent).
In addition to this high income tax rate, taxpayers would remain impacted by other taxes including payroll taxes, taxes on capital gains income and dividends, and the death tax.
From Rachael’s parent network, NBC, “Trump Paid $38 Million in 2005 Federal Income Tax, White House Says Before Report.”
In a statement, the White House said the “illegally published” pages proved only that Trump “was one of the most successful businessmen in the world with a responsibility to his company, his family and his employees to pay no more tax than legally required.”
From CNSNews.com, “Obama Has Collected $18,764,164,000,000 in Taxes–$124,003 Per U.S. Job“.
(CNSNews.com) – Over the course of the 86 full months that President Barack Obama has completed serving in the White House—from February 2009 through March 2016–the U.S. Treasury has collected approximately $18,764,164,000,000 in tax revenues (in non-inflation-adjusted dollars), according to the Monthly Treasury Statements issued during that period. (President Obama was inaugurated on Jan. 20, 2009.)
That equals approximately $124,003 for each of the 151,320,000 persons who, according to the Bureau of Labor Statistics, had either a full- or part-time job during March 2016.
During the same 86-month stretch of the Obama presidency, the total debt of the federal government increased from $10,632,005,246,736.97 to $19,264,938,619,643.07, according to the Treasury.