Former Wisconsin Gov. Scott Walker penned a pedantic tweet about tax rates for '5th graders' – then got schooled by first-term Rep. Alexandria Ocasio-Cortez on how her 70 per cent top tax rate would really work.
Walker, a two-term Republican governor and former presidential contender who lost his race against Democrat Tony Evers in November, decided to take to Twitter to go after the freshman lawmaker's tax proposal, which she floated on CBS' '60 Minutes.'
Walker wrote Tuesday: 'Explaining tax rates before Reagan to 5th graders: “Imagine if you did chores for your grandma and she gave you $10. When you got home, your parents took $7 from you.” The students said: “That’s not fair!” Even 5th graders get it,' he wrote.
BACK TO SCHOOL: Former Wisconsin Gov. Scott Walker gave an example where a kid's grandma took away $7 of their earnings to try to take down a Democratic tax plan. But the 70 percent tax would only kick in after income reached into the millions.
A few hours later, Ocasio-Cortez, who has engaged in a raft of Twitter-battles since she joined Congress this month and seen her followers skyrocket, took to the medium to tell Walker how the tax would actually work.
'Explaining marginal taxes to a far-right former Governor: Imagine if you did chores for abuela & she gave you $10,' she wrote, using the Spanish word for grandma.
'When you got home, you got to keep it, because it’s only $10. Then we taxed the billionaire in town because he’s making tons of money underpaying the townspeople,' she wrote.
'Explaining marginal taxes to a far-right former Governor,' shot back Ocasio-Cortez
'Even 5th graders get it,' Walker wrote
Walker said even '5th graders get it,' but gave a hypothetical example that missed the point of Rep. Ocasio-Cortez's tax plan
Ocasio-Cortez drew backlash from Republicans when she floated a 70 per cent tax rate. But it actually polled well in a new Hill-Harris survey
Walker then tried to explain that taxes on the wealthy would inevitably expand
Although she hasn't introduced it as legislation, Ocasio-Cortez told CBS her plan would indeed include a top rate of as high as 70 per cent. But that would be only for those making around $10 million.
And as she took pains to note in her interview, even for the millionaire, the whole $10 million in earnings wouldn't be taxed at the top rate.
The way marginal rates work, the first, for example, $100,000 in income would be taxed at the rate such an earner would pay, with top rates kicking in on the higher amounts of income.
As Ocasio-Cortez described it: 'You look at our tax rates back in the '60s and when you have a progressive tax rate system your tax rate, you know, let's say, from zero to $75,000 may be ten percent or 15 per cent,' she said.
'But once you get to, like, the tippy tops – on your 10 millionth dollar – sometimes you see tax rates as high as 60 or 70 percent,' she said. 'That doesn't mean all $10 million are taxed at an extremely high rate, but it means that as you climb up this ladder you should be contributing more.'
Ocasio-Cortez drew backlash from Republicans when she floated a 70 per cent tax rate. But it actually polled well in a new Hill-Harris survey. Moving up the top rate to 70 drew 59 per cent in the survey. Even among Republicans, the idea got 45 per cent support, with 55 per cent opposed.
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https://hienalouca.com/2019/01/17/former-gop-gov-walker-schooled-by-twitter-after-lecturing-kids-on-ocasio-cortezs-70-tax-plan/
Main photo article Former Wisconsin Gov. Scott Walker penned a pedantic tweet about tax rates for ‘5th graders’ – then got schooled by first-term Rep. Alexandria Ocasio-Cortez on how her 70 per cent top tax rate would really work.
Walker, a two-term Republican governor and former presidential contender ...
It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.
Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.
Dianne Reeves US News HienaLouca
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