WH advisor Larry Kudlow says taxing rich people never works: "Look at Venezuela" - Polidicks

https://www.cnbc.com/2019/02/01/white-house-advisor-kudlow-compares-democratic-wealth-tax-to-venezuela.html White House economic advisor Larry Kudlow implied Friday that Democratic proposals to increase taxes on the wealthiest Americans could lead to economic troubles akin to those in Venezuela. "Taxing rich people – that's an old saw from the left. It never works," Kudlow told Fox Business. "I don't know how these elections and nominations and candidacies will play out. I mean, look at Venezuela – it's an absolute catastrophe. They taxed rich people, they taxed everybody and they have equality of sorts – everybody's poor." Kudlow, director of President Donald Trump's National Economic Council, was likely referring to freshman N.Y. Rep. Alexandria Ocasio-Cortez's proposal for a 70 percent marginal rate on those with incomes above $10 million. "The top 1 percent of Americans pay 37 percent of all the income taxes, OK? And the top 1 percent basically pays more than the lowest 90 percent, so who's carrying the freight here?" Kudlow added. "The most successful are not only paying their fair share, they're paying the most. By far."

I swear, this is all they can do, look at the worse example of anything on the left, and go "SEE THIS IS WHY IS NEVER EVER WORKS", while there are countless more examples that show otherwise.

"Socialism never works. Look at Stalin!"

Capitalism never works. Look at 1929.

"how can climate change be real, it was cold outside today!"

"Conservatism never works. Look at Hitler!"

"Hitler was a socialist! Can't you tell, dumbass? The Nazi party has socialist in it's name!"

"Breathing never works, look at drowning!"

"Democratic Republics never work! Look at North Korea!"

the politicians suggests taxing juul at 90% people cheer, politicians suggest taxing the rich at 90% marginal rate people decry communism

As far as I can tell from a cursory Googling, Venezuela's top income tax bracket is lower than the USA's.

Cunts like this makes me hate associating with conservative principles.

"The most successful are not only paying their fair share, they're paying the most. By far." That’s a odd way of saying the people who grew up with the bank of mum and dad to cater to their every whim isn’t it, I’d be willing to bet that the vast majority of them have never had to worry About job security or whether they’ll be able to afford food for themselves.

Seems to work fine across most of the Western world...and hell, ya'll motherfuckers make more money in one day than I make all fucking year, you can afford to pay 60, even 70% of the total taxes taken in by the IRS each year and still have enough money left over for your lavish lifestyles. Taxes for the super rich should go up because they can afford it, while taxes for the poor like myself should go down because we're barely able to make ends meet as it is. We pay our fair share into the economy by being the wage slaves that make it possible, you fucksticks just sit around in your offices all day planning golf trips and buying fourth, fifth, sixth mansions off the sweat of our labor...

"pulling out always works, look at this pregnancy test"

They'll call you a socialist if you want to raise taxes 1% so may as well go ham.

Aristocracies have always convinced themselves that they rule over the unwashed masses because they are somehow inherently superior, not because they were born to a family that's been rich for decades/centuries, and this creates not only a sense of entitlement but almost always a massive disconnect with the needs and experiences of the working poor (which now includes most of the former middle class in the US thanks to decades of stagnant wage growth). They develop bizarre selfish justifications to rationalize their disproportionate wealth and power like "well they're just lazy, if they worked hard enough they could be rich like me" and "they need me to be responsible for them because they're uneducated and dumb". And if you don't think the big corporations and their lobbying arms that we curse daily are a neo-aristocracy of the digital age, oh boy do I have a whole lot of unfortunate truths to drop on you.

ya people confuse the amount of money the rich pay in taxes for the ratio of their income they pay in taxes. Yes the rich will pay the majority of the taxes collected because 14% of 20 million is a lot more money than 27% of 50k, but they pay a marginally larger % of their income than the rest of us do.

It's a cheap take, and it's provably wrong. What killed private industry in Venezuela was forcible seizures, not taxation. You can look at an economy like Sweden's, who has a massive innovation market and the highest tax rates in the world. Turns out there's not that much of a difference in your quality of life if you make $900000 a year instead of $1000000?

At least aristocracy brought on by capitalism is semi merit-based to some degree whereas state-centered Russian economics have fermented into an oligarchy. That's what a political science professor will tell you.

it's merit based maaaaaybe on first generation rich, after that it's not different at all. And I would argue that there's no level of smarts that entitles you to fuck over other people and hoard millions of dollars.

That's socialist talk

Ok, lets just kill the rich instead then

They say that it takes three generations to make a person ultrarich, but that's anecdotal.

I dunno someone like Jeff Bezos who's one of the richest people right not did it in one.

Oh. So you changed your mind then. Ok, good.

Presidents never work, look at Trump!

It's all they have to argue against policies that are popular among the populace and working people to try and convince them the status quo is safer. As leftist policies grow more and more popular you can expect Venezuela to be used more and more, especially if we go to war with them.

Hey um.. I don't want to be out of place, but isn't this kind of what the urbandictionary calls a "circlejerk?"

If Venezuela wasn't state owned capitalism then yeah maybe?