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Opinion from a Libertarian ViewPoint

Posts Tagged ‘Alexandria Ocasio-Cortez’

The Green New Deal blueprint introduced by Rep. Alexandria Ocasio-Cortez was crafted by three far-left organizations and is being pushed by a coalition of well-funded professional progressive groups and known leftist agitators.

Posted by M. C. on February 19, 2019

Guess Who? Soros and Rockefeller

This looks like an NPR program donor list.

https://www.breitbart.com/politics/2019/02/19/whos-behind-the-green-new-deal-big-money-backs-ocasio-cortez-socialist-dream-project/

by Aaron Klein

Some of the organizations helping to promote the Green New Deal have ties to financing from billionaire George Soros and trace their roots to such radical groups as Occupy Wall Street and Black Lives Matter.

Earlier this month, Ocasio-Cortez posted an 11-page Google document in the form of a nonbinding legislative resolution that has become the most authoritative version of the Green New Deal, a broad outline for the current conception of the socialist-style plan. Read the rest of this entry »

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The Real History of the American Income Tax | AIER

Posted by M. C. on February 19, 2019

https://www.aier.org/article/real-history-american-income-tax

By Phillip W. Magness

The 70 percent income tax scheme of Rep. Alexandria Ocasio-Cortez and the closely related wealth tax proposal of Sen. Elizabeth Warren would take federal taxation into historically unprecedented territory. You would not know that though from listening to the academic supporters of this newly fashionable cause of progressive taxation.

To advocates of these policies such as economists Thomas Piketty, Emmanuel Saez, and Gabriel Zucman, they simply seek to restore an allegedly lost progressive legacy of high income taxation from the early and middle twentieth century.

Piketty made this argument in the Boston Globe earlier this week, suggesting that the Ocasio-Cortez and Warren proposals simply correct a “historical amnesia” in place since 1980 when a succession of Republican presidents allegedly “turned their backs” on the true origins of income taxation.

Part of Piketty’s narrative rests on misleading statistics. He points to the high statutory tax rates of the mid-20th century, averaging 81 percent on the top income bracket between 1930 and 1980. Yet as we’ve discussed before, nobody actually paid those rates or anywhere close to them. The effective tax rate — that is, the portion of total income earnings that individuals actually pay to the government — was much lower in this same period. Using the early 1960s as a benchmark, it hovered just over 40 percent for $1 million earners despite an average statutory rate, absent deductions, of nearly twice that and a top marginal rate in excess of 90 percent.

But Piketty’s history is faulty on another count. According to his telling, income taxation itself was the original answer to spiraling inequality in the late 19th century:

Between 1880 and 1910, while the concentration of industrial and financial wealth was gaining momentum in the United States and the country was threatening to become almost as unequal as old Europe, a powerful political movement in favor of an improved distribution in wealth was developing. This led to the creation of a federal tax on income in 1913 and on inheritances in 1916.

Even Piketty’s basic historical narrative, however, does not hold up to scrutiny.

The Forgotten Origins of the Federal Income Tax Read the rest of this entry »

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#AbolishICE Helped Kill New York’s Amazon HQ Deal | Breitbart

Posted by M. C. on February 18, 2019

https://www.breitbart.com/politics/2019/02/15/abolishice-helped-kill-new-yorks-amazon-hq-deal/

by John Carney

Amazon’s decision to cancel its plans to build a second corporate headquarters in New York City came after left-wing activists and politicians demanded that the company advance their immigration agenda in exchange for nearly $3 billion in government subsidies.

Democratic socialism advocates and New York politicians, emboldened by the leftward lurch of the Democrat Party, which the election of Rep. Alexandria Ocasio-Cortez (D-NY) crystallized, stepped up their demands on Amazon in recent weeks, according to a person briefed on the matter. One such demand included that the company pledge not to cooperate with U.S. Immigration and Customs Enforcement (ICE).

Amazon refused to say it would not cooperate with U.S. immigration laws, the person said…

Ocasio-Cortez and Gianaris were not alone in opposing Amazon for its unwillingness to declare it would not cooperate with federal immigration law.

“I want the deal to be scrapped in its entirety,” City Councilman Jimmy Van Bramer of Queens said prior to the announcement that Amazon would pull out of New York. “They want to crush unions. They want to work with ICE. They want to bypass community review. They want to take giant subsidies. I don’t see them changing one bit and so, yeah, they’re not welcome here.”

This was not a populist uprising against a big business seeking subsidies. According to polling data, most Queens residents supported Amazon’s move to New York, but their voices were overwhelmed by the activists. Among black voters, 70 percent supported the Amazon deal, while only 25 percent objected. Among Latinos, 81 percent supported Amazon with only 17 percent opposing. Whites were less enthusiastic, with just 51 percent favoring and 40 percent opposing…

Be seeing you

genius

 

 

 

 

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New Deals (Even Green Ones) Are Bonanzas For Big Business

Posted by M. C. on February 18, 2019

https://townhall.com/columnists/jonahgoldberg/2019/02/15/new-deals-even-green-ones-are-bonanzas-for-big-business-n2541520

Amazon is taking its ball and going home, and New York Democrats are actually celebrating.

I wasn’t a huge fan of the deal New York and Amazon worked out. I don’t like corporate welfare, and the race among municipalities to bribe businesses to set up shop in their backyards has a lot of problems. The news that Amazon is spurning the Big Apple and searching for a different location will undoubtedly spark an unseemly frenzy among other cities, reminiscent of the search for the last golden ticket in “Willy Wonka and the Chocolate Factory.”

But what’s just astounding to me is how Democrats can (almost in one breath, figuratively speaking) champion a Green New Deal that would use the powers of the state — taxes, subsidies, regulatory bullying, etc. — to herd whole industries into alignment with their vision of a just and green society, and at the same time denounce these very tactics when actually put into practice.

The most prominent architect of the GND is New York Rep. Alexandria Ocasio-Cortez. Under her proposal, cows might suffer, but humans will thrive thanks to all the wonderful new jobs and free health care her utopian scheme would provide.

AOC, as she’s ubiquitously called, rejects the idea that traditional market economics or fiscal bookkeeping should be any hindrance to her scheme.

“I think the first thing that we need to do is kind of break the mistaken idea that taxes pay for 100 percent of government expenditure,” she recently told NPR’s Steve Inskeep. “It’s just not how government expenditure works. … Government projects are often financed by a combination of taxes, deficit spending and other kinds of investments — you know, bonds and so on.”

When Inskeep pointed out to her that deficit spending is “borrowing money that has to be paid back eventually through taxes,” AOC reversed herself with an impressive lack of embarrassment, saying that’s OK because this isn’t spending, it’s investing. Borrowing tens of trillions for her “investments” will pay for itself, “Because we’re creating jobs.”

Read the rest of this entry »

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EconomicPolicyJournal.com: AOC’s Green Great Leap Forward is Nothing Short of Destruction of Life as We Know It

Posted by M. C. on February 17, 2019

The plan is so generous that it promises an income even to people, according to the Democrat’s press release, who refuse to work still will be provided a “living wage” income.

Alexandria Occasional-Cortex

https://www.economicpolicyjournal.com/2019/02/aocs-green-great-leap-forward-is.html

By William L. Anderson

In what its supporters have claimed is “visionary,” the congressional media darling, Alexandria Occasio-Cortez (AOC) has released her short-awaited Green New Deal , and she has called for nothing short of destruction of life as we have known it:
Rep. Alexandria Ocasio-Cortez said she has no qualms about acknowledging a so-called “Green New Deal” will mean unprecedented governmental intrusion into the private sector. Appearing on NPR, she was asked if she’s prepared to tell Americans outright that her plans involve “massive government intervention.”
On one level, AOC is being honest; such a plan would be unprecedented, at least in the United States, but it hardly would be the first government-led massive intrusion into a nation’s economy. The 20 th Century was full of such intervention, beginning with World War I, and continuing through the years of communist governments. The century was full of intervention, and the earth was full of the dead bodies to prove it. What AOC and her political allies, including most Democrats that have declared they will run for the U.S. Presidency, are demanding is the U.S. version of Mao’s utterly-disastrous Great Leap Forward.
For all of the so-called specifics, the Green New Deal (GND) reads like a socialist website which is full of rhetoric, promises, and statements that assume a bunch of planners sitting around tables can replicate a complex economy that feeds, transports, and houses hundreds of millions of people. The New York Times declares the plan to give “ substance to an idea that had been a mostly vague rallying cry for a stimulus package around climate change, but its prospects are uncertain.”
Actually, there is nothing we can call “substance” in this proposal if we mean “substance” to be a realistic understanding that it would be impossible to re-direct via central planning nearly every factor of production in the U.S. economy from one set of uses to another, since that is what the proposed legislation actually requires. For example, the following is what AOC and others call the “scope” of the proposed law:
(A) The Plan for a Green New Deal (and the draft legislation) shall be developed with the objective of reaching the following outcomes within the target window of 10 years from the start of execution of the Plan:

Read the rest of this entry »

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EconomicPolicyJournal.com: The Robert Higgs Open Letter to Alexandria Ocasio-Cortez and Why He Didn’t Launch a Master Plan For Government Takeover of the World

Posted by M. C. on February 15, 2019

https://www.economicpolicyjournal.com/2019/02/the-robert-higgs-open-letter-to.html

Excellent stuff from Robert Higgs:

RW

(ht Ben H.)

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Boston University’s Fake-o-Nomics Darling

Posted by M. C. on February 13, 2019

https://www.nationalreview.com/2018/07/alexandria-ocasio-cortez-economics-major-ignorant-of-basic-facts/

By 

It costs a pretty penny to earn a diploma in stupid.

The annual list price to attend Boston University — including tuition, fees, room, and board — currently rounds out to $70,000. To acquire a degree in economics from this tony institution of higher learning, an undergrad must complete courses in calculus, microeconomic and macroeconomic analysis, empirical economics, statistics, and assorted electives.

Four years, 52 credits and nearly $300,000 later, the school promises that BU economics majors will depart “with a firm understanding of core microeconomic and macroeconomic theory” and the “empirical skills that are essential to applying economic reasoning in our increasingly data-driven world.”

How, then, to explain the abject economic illiteracy of meteoric media darling and democratic socialist “political rock star” Alexandria Ocasio-Cortez? The 28-year-old BU alumna graduated with an economics and international relations degree in 2011. She calls herself a “nerd” and bragged about her academic credentials, tweeting earlier this month:

“How many other House Democrats have a degree in Economics like I do? Trying to find who out here is going to be in the Gini Coefficient Appreciation Squad.”

The upstart New York congressional candidate has been hailed by pundits, newspapers, and pols as “sharp,” “smart” and “extraordinary.” BU’s associate provost and dean of students Kenneth Elmore gushed that Ocasio-Cortez is “brilliant — she is boldly curious and always present. She makes me think and could always see multiple sides of any issue. . . . I can’t wait to see what happens when her time truly comes.”

But when the time came to put her BU economics education to work, Ocasio-Cortez flunked. On PBS last week, she asserted that “unemployment is low because everyone has two jobs.” Moreover, the erudite B.A. holder in economics posited, “unemployment is low because people are working 60, 70, 80 hours a week and can barely feed their kids.” Read the rest of this entry »

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Alexandria Ocasio-Cortez Exposes The Dark Side Of Politics In 5 Incredible Minutes | HuffPost

Posted by M. C. on February 9, 2019

Occasional-Cortex is right. But it is nothing we don’t already now.

Really boring. NYC version of Valley Girl. Skip this unless you are really interested.

https://www.huffingtonpost.com/entry/alexandria-ocasio-cortez-campaign-finance_us_5c5d246be4b03afe8d6637ff

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AOC and the Moron Mob – by Robert Ringer

Posted by M. C. on February 4, 2019

http://robertringer.com/aoc-and-the-moron-mob/

by Robert Ringer

An acquaintance of mine recently asked me if I took media darling Alexandria Ocasio-Cortez seriously?  Without hesitation, I answered in the affirmative.  Let me explain why.

In full disclosure, I admit I have a soft spot for AOC.  She’s an adorable little girl with sparkling eyes and boundless energy.  Sure, she’s undeniably a moron, but a pleasant moron.  I can’t help it, I just like pleasant people, even if they’re a little short on intellect.

What’s most remarkable about AOC is that she does something Radical Leftists almost never do:  smile!  And not just any old smile.  Hers is the kind of smile that lights up a room and makes everyone around her feel good.

More full disclosure:  AOC reminds me of a Puerto Rican girl in New York City who I dated in my mid-twenties.  She, too, sported an infectious smile, and her enthusiasm was always in high gear.

What made her different from AOC, however, was that not only was she intelligent, she also possessed an understanding of how the real world works that belied her age.  Of course, she had the advantage of not having her thought processes stunted by a four-year misinformation campaign at a prestigious eastern university.

Not so, however, with AOC.  Sadly, she got lobotomized by Boston University’s finest anti-American, socialist professors.  By the time she graduated, she was fully prepared to take on the evils of Western civilization and play a key role in the fundamental transformation of the United States of America.

Read the rest of this entry »

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Rip-Off the Rich? – LewRockwell

Posted by M. C. on January 30, 2019

https://www.lewrockwell.com/2019/01/laurence-m-vance/tax-the-rich/

By 

According to the latest figures released by the Internal Revenue Service (IRS):

  • In 2016, the top 50 percent of all taxpayers paid 97 percent of all individual income taxes, while the bottom 50 percent paid the remaining 3 percent.
  • The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).
  • The top 1 percent of taxpayers paid a 26.9 percent individual income tax rate, which is more than seven times higher than taxpayers in the bottom 50 percent (3.7 percent).

“The rich” are also punished through the phase-out of tax exemptions, deductions, and credits as their income rises.Yet, according to Democratic politicians like Senator Elizabeth Warren, Representative Alexandria Ocasio-Cortez, Senator Bernie Sanders, and former Senator Hillary Clinton, “the rich” are still not paying enough in taxes.

Senator Warren has proposed a “wealth tax” on the richest Americans: Read the rest of this entry »

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