Taxing Wealthy: Poking the Bear

I try not to make political blogs, but there's times where I feel necessary to discuss certain things. Now, I don't really care much for Alexandria Ocasio-Cortez. I think she's a loudmouth bimbo who thinks she can do whatever she wants. One thing she wants to do is tax the wealthy and have a 70 percent tax rate on them. This is something that Microsoft founder Bill Gates is not exactly fond of. Surely, he thinks there should be some taxes, but should be handled in a different compared to what she and others like Bernie Sanders have in mind.

Personally, I do think a number of people should get taxed with a high rate. I would apply it to all those Hollywood stars who get 10 to 20 million pay checks for a movie they do. Hell, I'd do it to the cast of The Simpsons since they make 10 million or more a season.  Baseball players I think are grossly overpaid. No reason to have 30 million a year to play a season of baseball. Same with basketball and football. I would do it to some of the politicians. I kind of get what Cortez is doing.

However, to want that high of a tax rate is ridiculous. Gates is worth 100 billion. He would be left with 30 billion following a 70 percent rate. But the thing is he does stuff with his money compared to most other billionaires. Both him and his, Melinda, are trying to make a difference in today's world. And it's not like that couple and many others are just sitting on piles of cash. To me, I have no idea how things work with hedge funds and all that. I think 70 percent is way too high despite what I said about the above examples. I think there has to be a healthy medium. For Cortez to go right for the throat that early into her run as a representative of New York is not smart.

Honestly, she would need to convince a lot of people to go with this idea, but I also believe this is a double edged sword. While Cortez is trying to be one for the people and try to make the government and the United States different, this could bite her in 10 to 20 years from those same people if they became millionaires or billionaires. I don't see her lasting that long in Congress. She has no idea what she is doing and I don't see many agreeing with her ideals. Cortez will experience a lot of hell from other senators and representatives all over the country.

Digital Taxes

I would say there's probably more people into digital services and products. Netflix and Hulu are enjoyed by many for their original material and the shows and films they acquire. Video games have tons of games on sale constantly. Music might have vinyl love, but to have something on your MP3 or phone is impressive. Georgia is one of the latest to propose or at least enforce a digital tax on services. And I'm not surprised.

The last four months or so, PlayStation digital stuff is taxed for me. I also look at the fact that more people are into the digital services. Physical is still something I will go after for a product, but it doesn't change what is going on. Businesses are struggling if it isn't for some making bad decisions. To get feet into their places is more important to them than it was 20 years ago. Even if there is physical copies, there is digital download versions for the same prices. It's just a matter of wanting to go to the store, or to do it in the comfort of your own home.

More and more states are doing this and it's been this way over the last four years or so as states start enacting more taxes on other products. Chalk it up whatever you think it is, but physical has stopped being the main thing to tax. I'd say we are a generation or two away from being fully digital in certain areas. Regardless, this has become the norm and it should be expected now. Getting frustrated is not going to change anything.