I know more about economics than AOC and my knowledge on economics is on a high school level. Its actually embarassing how little she knows about this shit. But hey, expecting a socialist to know about economics is like expecting a fish to know what a desert is.
Much of the ocean is a desert
You know what? Let’s use the allowance example again to make it even clearer.
Let’s pretend we have an allowance tax bracket with a 70% tax on money received after a certain point. To keep things simple, we’ll make the limit $90.
If a kid does chores and earns $10 in allowance, they get $10. They’re not going to be affected by the 70% tax.
If a kid does chores and earns $50, they get $50. They also aren’t in the 70% tax bracket, even though they make five times as much money as the kid making $10.
If a kid does chores and earns $100 in allowance, then they’re in the allowance tax bracket with the 70% tax.
$100 minus $90 is $10. This is the part that’s going to be taxed 70%.
70% of $10 is $7.
So the kid getting $100 in allowance will have $93 after the 70% tax takes its share.
Now, I’d never impose such a thing on actual kids. All of this is a thought exercise.
But if it were real, the kid making $10 and the kid making $50 would probably be kind of mad if the kid getting $93 was bitching about being short $7.
Also AOC literally has a degree in economics. So anyone saying their highschool education gave them more economics knowledge than her really needs to rethink themselves.
Your whiteness does not actually create expertise.
also that idiot saying that “fish don’t know what a desert is” is fucking stupid. the point they’re trying to make is dumb, and that analogy is dumb because fish still live in the fucking desert.
