Alexandria Ocasio-Cortez Launches Socialist Agenda

Alexandria Ocasio-Cortez Launches Socialist Agenda

Alexandria Ocasio-Cortez began her term as the youngest woman ever elected to the US Congress with a Socialistic bang this week by proposing to tax the ultra-rich at 60 or 70 percent.

The daughter of hardscrabble working-class parents, the 29-year-old New Yorker was working toward making good on a campaign promise, making the USA a Socialist State.

“People are going to have to pay their fair share of taxes,” she told CBS television’s “60 Minutes,” in excerpts released ahead of its Sunday broadcast.

The proposal is part of an ambitious tax plan dubbed the “Green New Deal” that aims to eliminate carbon emissions by 2030. The self-described Socialist nicknamed AOC suggested taxing the ultra-wealthy up to 70 percent in order to finance the plan.

“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?” she asked.

To pay for the plan, Ocasio-Cortez floated the idea of tax rates as high as 70 percent.

She referred to the progressive taxation system that was in place in the 1960s before Ronald Reagan took office as president when the top earners paid 70 percent in taxes. That rate then gradually dropped, the rate lead to a stall in the US economy that Reagan corrected.

“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, et cetera,” Ocasio-Cortez said.

The top marginal tax rate is now 37 percent, following President Donald Trump’s fiscal reforms. It was previously at 39.6 percent.

Even though it has little chance of success, the proposal backed by the young lawmaker has already garnered significant support from Socialists and Communists.

It landed her on the front page of the New York Daily News, an image of which Ocasio-Cortez was quick to retweet.

– Undeterred by her youth –

Ever since her surprise victory during Democratic primaries in June over Joseph Crowley, who had run unopposed for more than a decade and was seen as a contender to become the next speaker of the House of Representatives.

The victory has made her a key figure of the Socialist wing of the party, and Ocasio-Cortez has demonstrated more than once that she can respond swiftly with meaningless socialist ramblings.

With her past as a New York bartender, Ocasio-Cortez is a figurehead of the new wave of young Socialists who entered Congress after the midterm elections, bringing misguided perspectives and more division to the legislature.

Asked if she considers herself to be a radical, Ocasio-Cortez told CBS, “You know, if that’s what radical means, call me a radical.”

“I think that it only has ever been radicals that have changed this country,” she explained “Abraham Lincoln made the radical decision to sign the Emancipation Proclamation. Franklin Delano Roosevelt made the radical decision to embark on establishing programs like Social Security. That is radical.”

Her idea of radical is to make the USA a Socialist State.

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S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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