Bill de Blasio calls for 70 percent tax rate on wealthy

Bill de Blasio calls for 70 percent tax rate on wealthy

NY Mayor Bill de Blasio, during the first Democratic debate on Wednesday, said wealthy Americans should pay 70% of income in taxes. De Blasio, who has struggled to gain traction in the polls, called for the party to embrace other left-wing proposals. ’Yes, we are supposed to be for free college, free public college, for our young people. We are supposed to break up big corporations’, he said.

KCooper
KCooper
Alva Goldbook
Alva Goldbook 7 months

70% tax rate to go into the coffers of this ridiculous and incompetent government? No thanks. Raise taxes after the political parties have proven that they’re not completely corrupt to their core.

Rocky LeBlanc
Rocky LeBlanc 7 months

Stumping for increased theft from those already paying for everything. If you make less than $88,000 in America you are paying a negative effective tax rate. The top 1% of wage earners pay more in taxes than the bottom 90% combined currently, but I guess they are not happy until all the old companies are enshrined and they have taxed and regulated the rest of us out of ever being able to move up and create wealth. Their policies are exactly what would be prescribed by a dictator to solidify his rule. They want all the money, they want to control commerce, and they want to take away our protection and speech. I was thoroughly appalled at what they were calling for.

Steven Cline
Steven Cline 7 months

Left wing of the left wing. I hope that this is brought up in the general election to show how far the Leftists want to go.

Terynce Tzu
Terynce Tzu 7 months

and then all the rich folks left NY ...

Russ Kurtell
Russ Kurtell 7 months

Nothing this man says will be relevant ever so....

E Thomas
E Thomas 7 months

Calling it a 70% income tax rate is false. It's a 70% *marginal* tax rate on income over $10 million; all income under that limit would be taxed at a lower rate. Any write-up that fails to mention this is either ignorant of the facts or intentionally misleading.

Paul M
Paul M 7 months

Good way to get rid of all the people giving out the jobs. Genius.

Star Alien
Star Alien 7 months

100% tax rate or bust.

Jacob Barron
Jacob Barron 7 months

and 0 percent for corporations right bill. got to keep Amazon happy.

The Civic Nationalist
The Civic Nationalist 7 months

Laffer curve. You get less revenue at a certain point of tax rate increase, bc you create a disincentive to productivity by minimizing the benefit and maximize the cost in every microeconomic opportunity cost analysis, you incentive capital flight, and you end up with an employed tax base once industries leave. This is the same party that wants to give free healthcare to illegal immigrants... welfare state or open borders, you don't get to have both morons.

Andrew 1010
Andrew 1010 7 months

...Holy fuck dude.

Daniel McEwen
Daniel McEwen 7 months

Does that include him? How about a 70% tax on the gas for the SUVs he drives around in?

Sir_Kutz
Sir_Kutz 7 months

What about the the wealthy people leaving NY?

Kurt
Kurt 7 months

Some how I don’t think that wealthy Democrats will be paying it.

Joseph McHugh
Joseph McHugh 7 months

And whan the rich leave and take their money with them? What then?

More Dakka
More Dakka 7 months

They are not paying their taxes as it is. What makes him think a tax hike will encourage them to do so?

Mister Manager
Mister Manager 7 months

Even many New Yorkers said he shouldn't have run!

Ike K.
Ike K. 7 months

As someone who grew up in lower income and at two points was homeless, nah! See this is good on paper but when you get down to the nitty gritty, old money will finds ways to get out of it, new money however will be hit with this and it will stunt their growth so they'll probably move out to a place that won't tax them so hard. Meaning you'll just negatively effect new money.

Branden Jensen
Branden Jensen 7 months

*cough*greedy bastard*cough*

Kramo
Kramo 7 months

This is what makes everyone poor including the rich. If you are poor GET A JOB! After that, you are rich.

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