Alexandria Ocasio-Cortez Says She’s Fine With Sitting President Who Smokes Weed

Daniel Fowler
February 15, 2019

The world's second-richest man is taking shots at Rep. Alexandria Ocasio-Cortez's income tax plan, saying it wouldn't actually target the vast wealth of numerous nation's richest people.

'So the ability of hedge fund people, various people - they aren't paying that ordinary income rate, ' he noted.

For the 2014 tax year, the most recent data available from the IRS, the average top tax rate for the 400 Americans with the highest adjusted gross income was 23.13%. The top marginal rate is now 37 percent.

'If you focus on that, you're missing the picture, ' he said.

'We can be more progressive without really threatening income generation - what you have left to decide how to spread around, ' Gates said, noting the tradeoff that many economists point out.

When asked by the reporter if she would "be OK to have a president who say that they do smoke", the Democratic socialist lawmaker said, "Yeah, I don't care".

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Gates believes that there would be more benefit if Congress concentrated more on "Social Security, a capital tax and estate taxes" for revenue collection.

He continued: "You do start to create tax dodging and disincentives, and an incentive to have the income show up in other countries and things". Bernie Sanders (I-VT) have supported, such as "modern monetary theory".

The school of thought has received backing on the left from politicians such as Ocasio-Cortez and Sen.

Rep. Alexandria Ocasio-Cortez (D-NY) told TMZ on Thursday that she would have no issue with a president of the United States who recreationally smokes marijuana, arguing that "there's really no difference" between THC and alcohol.

The founder of Microsoft ended his criticism saying that some of the ideas that have been supported by progressives are "some insane talk", saying, "It will come back and bite you". "First of all, you never have to default because you print the money".

Listen to the full interview at The Verge.

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