News

Politics & Policy

Ocasio-Cortez: U.S. Can Fund Socialism with ‘Large Amount’ of New Tax Revenue

Alexandria Ocasio-Cortez on The Daily Show (Screengrab via Comedy Central)

During a Thursday night appearance on The Daily Show, Democratic congressional candidate Alexandria-Ocasio Cortez explained some of the mechanisms she believes can provide sufficient government revenue to fund the many costly promises she’s made to voters.

Asked by host Trevor Noah how the debt-addled federal government can fund Medicare-for-all and no-cost college tuition, the avowed Democratic socialist suggested that if people “pay their fair share” in taxes, and the government makes some “back of the envelope” budgetary adjustments based on “our values,” the government will have the requisite revenue to pay for her campaign promises.

“If people pay their fair share, if corporations and the ultra wealthy, for example as Warren Buffet likes to say, if he paid as much as his secretary pays, if he paid a fifteen percent tax rate,” Ocasio-Cortez explained. “If we reversed the tax bill but raised our corporate rate to 28 percent. If we do those two things and also close some of those loopholes that’s $2 trillion right there.”

“Now, if we implement a carbon tax so that we can financially incentivize people away from fossil fuels, that’s an additional amount, of a large amount, of additional revenue that we can have,” she added.

The political novice, who upset six-term incumbent Joe Crowley (D., N.Y.) in a primary last month, went on to explain how a “reprioritization” of spending could aid her political project. Specifically, she referenced cutting military spending, arguing that the omnibus spending bill passed last year allocated more money to the Pentagon than was requested.

“The last key, which is extremely, extremely important, is reprioritization,” she said. “Just last year we gave the military a $700 billion budget increase, which they didn’t even ask for. They were like, ‘We don’t want another fighter jet, don’t give us another nuclear bomb.’ They didn’t ask for it and we gave it to them,” she said.

NOW WATCH: ‘Alexandria Ocasio-Cortez Can’t Answer Questions About Israel’

Most Popular

Elections

The Media’s Bernie Sanders Makeover Begins

Just you watch: By the time Election Day rolls around in November, liberal columnists will be telling us that Bernie Sanders is the “real conservative” in the presidential race. Many among the center–left commentariat are struggling to come to terms with the likelihood that the Democratic Party will ... Read More
Elections

The Media’s Bernie Sanders Makeover Begins

Just you watch: By the time Election Day rolls around in November, liberal columnists will be telling us that Bernie Sanders is the “real conservative” in the presidential race. Many among the center–left commentariat are struggling to come to terms with the likelihood that the Democratic Party will ... Read More
Elections

There’s Zero Chance Bloomberg Would Pick Hillary

There’s no better evidence that Mike Bloomberg’s chances of getting the Democratic nomination are on the rise than the fact that the opportunistic Hillary Clinton is already trying to grab a piece of the action. The Drudge Report startled the political world on Saturday by noting that “sources close to ... Read More
Elections

There’s Zero Chance Bloomberg Would Pick Hillary

There’s no better evidence that Mike Bloomberg’s chances of getting the Democratic nomination are on the rise than the fact that the opportunistic Hillary Clinton is already trying to grab a piece of the action. The Drudge Report startled the political world on Saturday by noting that “sources close to ... Read More

Socialism . . . But?

For once, conservatives were ahead of the curve. American conservatism functioned as a political mass movement in the postwar era not because of the rhetorical gifts of its chief expositors (William F. Buckley Jr. et al.) nor because of the intellectual prowess of its best and most creative minds (ask George ... Read More

Socialism . . . But?

For once, conservatives were ahead of the curve. American conservatism functioned as a political mass movement in the postwar era not because of the rhetorical gifts of its chief expositors (William F. Buckley Jr. et al.) nor because of the intellectual prowess of its best and most creative minds (ask George ... Read More
Law & the Courts

The Roger Stone Double Standard

Whether Roger Stone, the loopy, self-aggrandizing political operative, deserves nine years in Supermax for obstructing an investigation into Russia–Donald Trump “collusion” is debatable. Whether the powerful men who helped create the investigation that ensnared Stone have been allowed to lie with impunity ... Read More
Law & the Courts

The Roger Stone Double Standard

Whether Roger Stone, the loopy, self-aggrandizing political operative, deserves nine years in Supermax for obstructing an investigation into Russia–Donald Trump “collusion” is debatable. Whether the powerful men who helped create the investigation that ensnared Stone have been allowed to lie with impunity ... Read More
NR Webathon

This Is Not a Drill

We may be months away from the most radical major-party nominee in American history. Bernie Sanders doesn’t belong on the Burlington City Council, let alone on the cusp of the American presidency, but that’s where the Democratic nomination would bring him. NR has jousted with socialists over the years ... Read More
NR Webathon

This Is Not a Drill

We may be months away from the most radical major-party nominee in American history. Bernie Sanders doesn’t belong on the Burlington City Council, let alone on the cusp of the American presidency, but that’s where the Democratic nomination would bring him. NR has jousted with socialists over the years ... Read More