Tags: oaktree | howard marks | ocasio-cortez | punitive | tax

Oaktree's Howard Marks Questions Ocasio-Cortez's 'Punitive' Tax Proposal

iron ball connected to shacle trough the chain
(Destina156/Dreamstime)

Wednesday, 30 January 2019 05:52 PM

Howard Marks, the billionaire co-founder and co-chairman of Oaktree Capital Group LLC, says a proposal by Representative Alexandria Ocasio-Cortez to raise tax rates on top earners to as much as 70 percent would be bad for the U.S.

“Americans generally accept the concept of progressive tax rates,” Marks wrote in a memo released Wednesday. “But they must not be punitive and de-motivating.”

Marks took aim at “increasing anti-capitalist sentiment” in his memo.

Before You File Your Taxes, You Must Read This

Ocasio-Cortez, 29, a first-term congresswoman from the Bronx, New York, floated the idea of raising the top marginal tax rate to 70 percent on incomes above $10 million.

Marks also questioned the efficacy of President Donald Trump’s protectionist policies, arguing tariffs punish consumers by raising the cost of goods while trying to protect jobs.

Trump’s April 15 Deadline: Tax Loophole Saves Thousands

© Copyright 2019 Bloomberg News. All rights reserved.

   
1Like our page
2Share
StreetTalk
Howard Marks, the billionaire co-founder and co-chairman of Oaktree Capital Group LLC, says a proposal by Representative Alexandria Ocasio-Cortez to raise tax rates on top earners to as much as 70 percent would be bad for the U.S.
oaktree, howard marks, ocasio-cortez, punitive, tax
143
2019-52-30
Wednesday, 30 January 2019 05:52 PM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved