AOC and her comrades target NY's top 5% with tax hikes: list of names included

She isn't all that smart

Comrade Rep. Alexandria "Sandy" Cortez (Socialist-NY) and her leftist sycophants are doing what they can to take more money from the people in the top 5% of New Yorkers. Forget about the top 1%, now it's every household earning over $250,000 a year to add $15,000,000,000 in state income tax hikes.

Anyone who voted for this communist bartender in that income bracket deserves what they voted for good and hard. Not surprisingly, New York experienced the largest exodus of millennials between the ages of 26 to 45 who made over $200,000 than any other state. This turns out to be a 4.6% loss, or a net drain of 27,101 taxpaying earners in that prime age bracket, and more that twice the loss of affluent millennials in California.

Among the largest states, Florida had the biggest surge of millennials entering the Sunshine State, at a 5.6% jump.

But low-average AOC and the socialist left say that taxing even lower to mid-six-figure earners is good for New York -- until they leave.

“The vast majority of us have felt the strain of rising prices from the grocery aisle to the housing market,” the Democratic Socialists of America said in a recent Sept. 18 press release. A message approved by comrade Sandy.

The socialists continued with: “Meanwhile, the richest New Yorkers have grown their wealth since the pandemic, and it’s past time they pay their fair share."

It turns out that the wealthy pay more than their so called fair share. It's the poorest in the nation who pay little to nothing federally, while the wealthy not only hire and pay more taxpayers, they also pay significantly more on average. But socialists want your money--just consider Black Lives Matter as an example.

“Along with real housing solutions, socialists in office have been fighting for full funding of schools, higher-education, and healthcare. We can pay for these public services by raising taxes on the top 5% of New Yorkers,” the statement said.The Democratic Socialists of America are proposing a tax hike for the “top 5%” of New Yorkers."

The targeted “top 5%” involves married New York couples with an adjusted gross income of more than $250,000, or each spouse averaging $127,500 each as per the Empire Center for Public Policy's Tim Hoefer.

The current progressive tax rate is 6% for taxable income for households earning more than $161,550 to $323,200 and 6.85% for income greater than $323,200 and under $2,155,350.

A new 7.5% income rate would be imposed on income starting at $250,000 for households, Hoefer said.

The wealthiest New York households whose income exceeds $20 million would see their income tax rate skyrocket from 10.9% to 24%, according to the bill championed by the DSA. 

That's theft of people's labor.

New York City already has the highest combined state-city income tax rate in the country for the highest earners — 14.77%.

Those politicians listed as backing the proposed tax hike include Sandy Cortez, state Sens. Julia Salazar and Jabari Brisport of Brooklyn, state Sen. Kristen Gonzalez (D-Queens), Assembly members Emily Gallagher (D-Brooklyn), Marcela Mitaynes (D-Brooklyn), Phara Souffrant Forrest (D-Brooklyn), Zohran Mamdani (D-Queens) and Sarahana Shrestha (D-Kingston) and New York City Council members Tiffany Cabán of Queens and Alexa Aviles of Brooklyn.

“New York already has some of the highest income tax rates in the country,” protested Hoefer, the Empire Center’s president and CEO. “Raising those rates would only accelerate the trend of the state’s wealthiest— those already paying the bulk of income taxes — leaving the state. 

They aren't wealthy because they're stupid--they are going to leave and head for a Republican-run state like many did with Florida.

Tweet