News & Politics

The Rich Get Richer When Democrats Hold Power

Tom Williams/Pool via AP

Democrats’ ever-changing economic proposals include tax breaks that mainly benefit the rich. How’s that for irony?

Even socialist Rep. Alexandria Ocasio-Cortez (AOC) admits the “rich” she wants to tax do not include the country’s highest earners. Most wealthy Americans will be protected from her party’s tax increases because legislation leaves loopholes for the hedge fund managers and Silicon Valley magnates they pretend to loathe but rely on for campaign donations.

AOC claims doctors and lawyers are not wealthy. She also claims that she herself is not wealthy — even though she makes $180,000 annually, placing her in the top 5 percent of all income earners in the United States. The median physician in the U.S. makes around $200,000 per year, but somehow doctors aren’t “the rich” AOC wants to tax.

Related: AOC: Merchandising Isn’t Capitalism Because It’s Not Evil

If the New York congresswoman doesn’t want to raise taxes on people earning $200,000, that means she doesn’t want to tax 97 percent of earners. Are AOC and her cult really ignorant enough to believe there is an enormous amount of taxpayers with “millions of dollars if not billions of dollars”?

There’s also a push in the House, backed by AOC and Senate Leader Chuck Schumer (D-N.Y.), to include a tax cut that only applies to the rich in blue states. It allows for unlimited deduction of state and local taxes.

Additionally, Democrats are pushing a five-figure tax credit — also a kickback to unions — for those wealthy enough to afford electric vehicles. The rich and well-connected get richer when Democrats hold power.

Meanwhile, despite broad agreement about funding, Congress is still debating the vital National Defense Authorization Act because those suddenly “fiscally prudent” anti-military leftists found one area they hope to cut.

Rep. Mark Pocan (D-Wisc.), a lunatic representing an insular far-left college district, inexplicably wants to slash the defense budget by 10 percent. AOC ranted incoherently on Pocan’s behalf Wednesday, arguing in part:

“During a time when our country is withdrawing from foreign wars, when COVID-19 and its fallout is one of the greatest threats that we face, when record levels of unemployment, housing, and healthcare crises is among us, the United States should be reducing its military spending by at least 10 percent and prioritize the very needs of our communities here at home.”

A proposal to indiscriminately cut defense spending by 10 percent across the board in the face of a nefarious China, emboldened Taliban, nuclear-ready Iran, and more noxious regimes is dangerously detached from reality. But the Hamas Caucus doesn’t care. They recently forced Democrats to kill a bill that keeps millions of Jews and Arabs from death at the hands of Islamic jihadists. (A standalone version passed Thursday afternoon, 420-9, leaving AOC in tears.)

Rep. Mike Gallagher (R-Wisc.), a former U.S. Marine with a Ph.D. in international relations, slammed the effort Wednesday.

 

AOC and her low-information radicals are unserious ingrates in a serious world. Their growing influence is dangerous to America and the world. With activist media as their only outlet, it’s also unlikely that they realize defense spending as a percentage of GDP is still low relative to what we spent during the Cold War.