Rep. Alexandria Ocasio-Cortez‘s (D-NY) proposal to tax the wealthy is not going over well in Davos.
Media ITE reports:
Appearing on Fox News Tuesday from the World Economic Forum, Fox Business’s Maria Bartiromo took a flamethrower to the new congresswoman’s plan.
“What is that going to do to the economy if you make it so economically difficult for the highest earners?” Bartiromo said. She added, “The top 10 percent of earners already pay almost 80 percent of all taxes.”
Bartiromo went on to blast New York mayor Bill de Blasio for recent comments in which he said wealth is in the “wrong hands.” She proceeded to rattle off a list of philanthropic contributions from billionaires including David Koch.
“What exactly is the wrong hands?” Bartiromo said. “Is the wrong hands Ken Langone — the billionaire that gave $100 million NYU medical school so that NYU could give out free medical school educations? Or maybe it it’s in Steve Schwarzman‘s hands — who just gave hundreds of millions of dollars to the New York Public Library, so that people can have access to new technology in the library? Or maybe it’s someone like David Koch, or someone who has given so much to medical schools?”
Bartiromo then proceeded to question whether moguls like Schwarzman, whose net worth is $13.1 billion according to Forbes, would still give $100 million dollars to the library if his fortune were slashed to a paltry $4 billion.
“You have to wonder what those billionaires would do with their money if the first thing they have to do is give 70 percent of it to the government,” Bartiromo said. “And let’s talk about productivity for a second — a whole ‘nother conversation. Are you going to work incredibly hard with the belief that you can earn great success, and you can get better and more wealth? Are you going to work really hard if you know that, at a point, you’ll have to give it all to the government? I don’t think so. So those comments [from Ocasio-Cortez], to me, seem quite naive.”