After
longing for the past two years for someone to move the national debate from
Trump's race baiting to more important issues I have been delighted with AOC's
tweets. If you aren't one of the 2.7
million people following her, start now.
She is the voice of her generation.
Ignore her at your own peril.
Her opening
gambit was to propose a 70% tax on the rich.
Needless
to say that sent the one-percenters and Republicans into a tizzy. So they trotted out their tired, old, and now
thoroughly debunked arguments against it.
Tax cuts for the wealthy create jobs, rich people won't work as hard, it
won't raise that much money. Seriously?
But
none of those arguments matter. They
never did.
Americans
never bought into those arguments. They
were in favor of low taxes on the wealthy because they believed that some day
they too would be wealthy. (Remember all
decisions are emotional.) They no longer
believe that.
Right
now the median age in the U.S. is 38.
The generations above that mark - Silent Gen, Boomers and Gen X all
bought into the idea that they would be rich someday.
But for
the generations below the midpoint something fundamental has changed. Millennials and Gen Zs no longer believe that
they will be rich someday. Moreover,
half of Americans age 25 - 34 say that worrying about money has negatively
affected their health. (Gernon, 2017)
For Millennials
and Gen Z's, the defining moments of their youth were 9/11 and the 2008 recession.
And the rapid pace of technological
advancement and social change have accelerated their fears even more. Is it any wonder given these influences that
they crave safety and security above all?
Therefore
they have no problem raising taxes on the rich to pay for their
healthcare. Or perhaps more importantly to
stop global warming before it destroys the world. And since they are the future, they will have
their way. It's only a question of when.
A Hill/Harris poll fielded this month showed that 59% of registered voters
support 70% tax rates for people earning over $10 million a year. That's 71% of Democrats, 60% of Independents
and 45% of Republicans. (Velencia, 2019)
Maybe
the future is already here.
Gernon,
D. (2017, August 7) Half of millennials
share two stressful views about money. cnbc.com.
Retrieved January 30, 2019, from
Velencia,
J. (2019, January 18) Alexandria Ocasio-Cortez Wants To Raise Taxes
On The Rich — And Americans Agree. fivethirtyeight.com. Retrieved January 30, 2019, from https://fivethirtyeight.com/features/alexandria-ocasio-cortez-wants-to-raise-taxes-on-the-rich-and-americans-agree/
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