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| Re: Ocasio-Cortez suggests raising taxes 70% (1588316) | |||
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Re: Ocasio-Cortez suggests raising taxes 70% |
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Posted by mtk52983 on Mon Jan 7 12:38:08 2019, in response to Re: Ocasio-Cortez suggests raising taxes 70%, posted by chicagomotorman on Mon Jan 7 12:10:21 2019. I will try and explain it as best as I can so you are not baffled.Every person needs a certain amount of money to live. Figure they need roughly $200/week for rent, $100/week for groceries and other food, $20/week for utilities, $75/week for public transportation, $100/week for miscellaneous that is $495/week not including health insurance or luxuries like a car. That means that a person will need $25,740 per year in order to live. For the person making $20,000/year that 10% tax is disaster because now they have to find a way to cut $7,740.00 per year from their budget just to live. On the other hand, your millionaire having the same 10% tax the $900,000 he/she now has does not mean that anything needs to be cut. |
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