Posted on 01/06/2019 7:10:03 PM PST by E. Pluribus Unum
Likely 2020 Democratic presidential candidate Julian Castro agrees with Rep. Alexandria Ocasio-Cortez that tax rates on some of the wealthiest Americans should skyrocket.
"Oh, I can support folks at the top paying their fair share," Castro told ABC News' "This Week" on Sunday when asked directly whether he could endorse the high-profile New York Democrat's idea.
The Obama-era Housing and Urban Development secretary, who is expected to officially announce he's running for the White House this week, made the comments after Ocasio-Cortez caught flak for suggesting people earning more than $10 million could be taxed between "60 or 70 percent."
In offering support to Ocasio-Cortez, Castro provided historical context given the current highest marginal income tax bracket is 37 percent for those receiving more than $500,000 a year.
"There was a time in this country where the top marginal tax rate was over 90 percent, even during Reagan's era in the 1980s it was around 50 percent" the former mayor of San Antonio, Texas, said.
Castro also floated "that we get more serious about making sure the corporations pay their fair share," so the country can fund policy programs like "Medicare-for-All," as well as universal pre-kindergarten and higher education.
(Excerpt) Read more at washingtonexaminer.com ...
A fair share would be everyone paying the same rate.
The flat tax.
Cortez and Castro explain why the majority of Hispanic countries are ****holes that their populations have to become refugees and seek asylum in the U.S. to get away from.
Exactly. No one ever paid 90%.
There were loopholes, write offs, and all kinds of ways around those absurd tax rates. There was also income averaging and tax breaks galore.
[Our very own Castro?]
Well, there was Dennis Castro. At least that’s what Cosmo Kramer told me.
That apple didn't fall very far from Fidel's tree.
DIM lunatics ...pure lunatics.
Why not tax them at 990%? That would be even better!!!
O.K., now time to dance!!!
“Not defending it...but this is the marginal tax rate, not a tax on every dollar someone earns. For example, it might be 90% over anything over 1M dollars earned or whatever the govt. decides the figure would be.”
Yes, but these liberals think it means the top earners paid 90% of their income.
Let me tell you how it will be
There’s one for you nineteen for me
Criminals and the permanent gimme class (same thing) would still pay nothing in taxes.
The only way to ensure that truly everyone has skin in the game, is to replace the income tax with a national sales tax.
His mother is a rabid La Raza supporter, maybe even a founder.
What you did there. I see it.
Rich kid of Communism: Fidel Castro’s model grandson flashes his wealth and love of the high life on Instagram as he travels the world
They are just ignoring the jobs and business investments since the tax cuts. Act like it never happened.
Boston University not Boston College
I’m pretty sure everyone knows that, except for someone that never had any income to pay taxes on.
The 90% rate should kick in for any income above $174,000
Really?
And why is that?
How did you come by the magic number of $174,000?
Fidel Castroism is alive and well in Texas and New Mexico.
Time to mark the American Castro brothers for who they really are, Marxists without the beards.
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