"Lobbyists and those who can afford it pay people to hold their spot so they get in 1st". The proposed tax would shave 70% off any income above $10 million. "Now, you finally have some politicians who are so extreme that I'd say, 'No, that's even beyond, '" Gates said. "It's about a 20% rate, so it has nothing to do with the 39.6% marginal ordinary income rate", Gates said.
While she has only recently been elected to Congress and is too young to run for President at 29 years, Ocasio-Cortez is a social media phenomenon and is already shaping one of the party's most visible and influential public figures.
'If you focus on that, you're missing the picture, ' he said. "But we can be more progressive without really threatening income generation - what you have left to decide how to spread around".
Instead, he said, lawmakers should focus on things like the estate tax, taxes on capital and Social Security. You start to create tax dodging and disincentives, and an incentive to have the income show up in other countries and things'. Bernie Sanders (I-VT) have supported, such as "modern monetary theory".
Ocasio-Cortez confirmed the legality of a political campaign funded entirely by PACs; the use of hush money to keep skeletons in the closet; impacting legislation in which one has PAC-motivated interests; and simultaneously holding in an industry while taking legislative action (e.g., deregulation) that benefits that industry.
Rep. Alexandria Ocasio-Cortez (D-NY) told TMZ on Thursday that she would have no issue with a president of the United States who recreationally smokes marijuana, arguing that "there's really no difference" between THC and alcohol.
Gates, who amassed a fortune by building Microsoft, noted that many very wealthy people's earnings subject to income taxes make up a tiny fraction of their overall wealth - a "rounding error of ordinary income" as he put it.
"That is some insane talk", Gates told The Verge.