Tag Archives: Alexandria Ocasi-Cortez

Kamala Harris on New Green Deal price tag: “It’s not about a cost”

From Fox News: Democratic presidential hopeful Kamala Harris pointedly declined in an interview broadcast Sunday to put a price tag on the Green New Deal and “Medicare-for-all,” which she has endorsed wholeheartedly even as Republicans cite nonpartisan cost estimates of trillions of dollars for each unprecedented proposal.

Harris, D-Calif., joined Sens. Elizabeth Warren, D-Mass., and Cory Booker, D-N.J. to co-sponsor the Green New Deal resolution earlier this month. The resolution’s botched rollout included the release of an official document by New York Rep. Alexandria Ocasio-Cortez’s office that promised economic security even for those “unwilling to work,” as well as the elimination of “farting cows” and air travel.

“There’s no question we have to be practical. But being practical also recognizes that climate change is an existential threat to us as human beings,” Harris began. “Being practical recognizes that greenhouse gas emissions are threat to our air, and threatening our planet. And that it is well within our capacity as human beings to change our behaviors in a way that we can reduce its effect. That’s practical. Of course we can afford it.”

CNN’s John King asked Harris for her response to conservative arguments that progressive proposals could end up doing more harm than good, by crippling the U.S. economy even as major polluters like China continue unabated.

According to the Mercatus Center at George Washington University, for example, Ocasio-Cortez’s plan for universal Medicare would end up costing more than $30 trillion, even after factoring in the sweeping tax hikes that would offset the expense by only roughly $2 trillion. Charles Blahous, a senior strategist at the Mercatus Center and an author of the study, later charged that Ocasio-Cortez had wildly misinterpreted his study to try to argue that “Medicare-for-all” would save money.

“One of the things that I admire and respect is the measurement that is captured in three letters: ROI,” Harris responded. “What’s the return on investment? People in the private sector understand this really well. It’s not about a cost. It’s about an investment. And then the question should be, is it worth the cost in terms of the investment potential? Are we going to get back more than we put in?”

Harris’ loose invocation of an economics term echoed language by Ocasio-Cortez, who has repeatedly and confidently said “there’s a little thing in economics known as externalities” to justify her Green New Deal proposal.

Read the whole story here.

Silly Kamala…if you are going to calculate the ROI you’d know that the benefit would have to be divided by the cost of the investment. That’s how this ratio works.

But I know math doesn’t really apply when sucking us taxpayers dry.

DCG

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Socialist Ocasio-Cortez wants 70% tax rate for the wealthy

You know she’d take 100% of taxpayer money if she had her way.

From NY Post: Newly minted Rep. Alexandria Ocasio-Cortez says tax rates for the nation’s wealthiest should increase to as much 70 percent to fund a new initiative to combat climate change — even if that means she’s labeled a “radical.”

“If that’s what radical means, call me a radical,” she said in an interview with CBS’ “60 Minutes” that will air in full on Sunday.

The New York Democrat said the tax hike would help fund the Green New Deal, which aims at eliminating carbon emissions in the US within 12 years.

“That is the goal. It’s ambitious,” she said. “It’s going to require a lot of rapid change that we don’t even conceive as possible right now. What is the problem with trying to push our technological capacities to the furthest extent possible?”

The 29-year-old said the plan could include “an element where people are going to have to start paying their fair share in taxes.”

“You know, you look at our tax rates back in the ’60s, and when you have a progressive tax rate system, your tax rate let’s say from zero to $75,000 may be 10 percent or 15 percent, etc.,” Ocasio-Cortez said.

“But once you get to the tippy-tops on your 10 millionth dollar, sometimes you see tax rates as high as 60 or 70 percent,” she continued. “That doesn’t mean all $10 million are taxed at an extremely high rate. It means that as you climb up this ladder, you should be contributing more.”

The current top tax rate is 37 percent.

When “60 Minutes” host Anderson Cooper described her ideas as a “radical agenda,” she responded, “I think that it only has ever been radicals that have changed this country.”

DCG

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