That little girl is going places
I know more about economics than AOC and my knowledge on economics is on a high school level. Its actually embarassing how little she knows about this shit. But hey, expecting a socialist to know about economics is like expecting a fish to know what a desert is.
Much of the ocean is a desert
You know what? Letās use the allowance example again to make it even clearer.
Letās pretend we have an allowance tax bracket with a 70% tax on money received after a certain point. To keep things simple, weāll make the limit $90.
If a kid does chores and earns $10 in allowance, they get $10. Theyāre not going to be affected by the 70% tax.
If a kid does chores and earns $50, they get $50. They also arenāt in the 70% tax bracket, even though they make five times as much money as the kid making $10.
If a kid does chores and earns $100 in allowance, then theyāre in the allowance tax bracket with the 70% tax.
$100 minus $90 is $10. This is the part thatās going to be taxed 70%.
70% of $10 is $7.
So the kid getting $100 in allowance will have $93 after the 70% tax takes its share.
Now, Iād never impose such a thing on actual kids. All of this is a thought exercise.
But if it were real, the kid making $10 and the kid making $50 would probably be kind of mad if the kid getting $93 was bitching about being short $7.
Also AOC majored in economics (actually one of her two majors) so step the FUCK off my congresswoman tyvm
