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AOC's Wealth Tax Proposal Gets Dismantled by Argentinian Lawmaker During Munich Conference

An Argentinian lawmaker set Rep. Alexandria Ocasio-Cortez of New York straight when the Democratic socialist spoke longingly about her desire to impose a wealth tax in the United States.

A moderator asked Ocasio-Cortez, who made her debut at the Munich Security Conference in Germany over the weekend, “When you run for president, are you going to impose a wealth tax or a billionaires tax?”

“I don’t think… we have to wait for any one president to impose a wealth tax. I think that it needs to be done expeditiously,” the Democratic socialist lawmaker responded.

CNBC reported in 2019 that AOC floated the idea of a 70 percent federal marginal tax rate for those earning $10 million in income and above.

.@AOC‘s plan to raise taxes on the richest to 70% won’t bring in much revenue. We’ve had 70% (even 90%) top tax rates before…yet government revenue as a share of the economy has been relatively steady. That’s because the rich find loopholes in high tax rates, or just work less pic.twitter.com/BjhlSXRKoF — John Stossel (@JohnStossel) April 7, 2019

.@AOC‘s plan to raise taxes on the richest to 70% won’t bring in much revenue. We’ve had 70% (even 90%) top tax rates before…yet government revenue as a share of the economy has been relatively steady. That’s because the rich find loopholes in high tax rates, or just work less pic.twitter.com/BjhlSXRKoF

— John Stossel........

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