Who Wore It Best: Trump Vs. Ocasio-Cortez

GettyImages-1066818384

GettyImages-1066818384

Gates, who held the title of the richest man on Earth on and off for decades before Amazon CEO Jeff Bezos unseated him previous year, also ripped the increasingly popular modern monetary theory. And the most important question of all, between the (arguably) most popular man and woman in USA politics, who wore it best?

Gates, who appeared on the show with his wife, Melinda Gates, to promote their foundation's annual letter, made similar comments about the tax code to the Verge. So the ability of hedge fund people, various people - they aren't paying that ordinary income rate.

During the podcast, Gates also weighed in on a number of ideas that Ocasio-Cortez and more progressive lawmakers, including Sen.

Although no designer has come forward to publicize their participation in Ocasio-Cortez outfit, Glamour magazine reported that internet sleuths went looking for the most noteworthy item: a white cape worn in lieu of a suit jacket.

"You finally have some politicians who are so extreme that I'd say, 'No, that's even beyond, '" Gates told the Verge. Elizabeth Warren's proposed tax policy that focuses on taxing net worth on households worth more than $50 million.

'We can be more progressive without really threatening income generation - what you have left to decide how to spread around, ' Gates said, noting the tradeoff that many economists point out.

'The one thing that never gets much press - the IRS shows the statistics for the top 400 people of the highest income and the rate they pay. It's about a 20 percent rate, so it has nothing to do with the 39.6 marginal ordinary income rate'. 'Anyway, you should look at that.

"If you focus on that, you're missing the picture", he said without mentioning the Democratic socialist congresswoman by name.

'But once you get to the tippie-tops, on your ten millionth dollar, sometimes you see tax rates as high as 60 percent or 70 percent, ' Ocasio-Cortez said. "But it means that as you climb up this ladder, you should be contributing more".

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