Alexandria Ocasio-Cortez wants an idiotic Supertax

From the Guardian

I could care less about how young Alexandria Ocasio-Cortez is, whether or not she's from the Bronx, how many Twitter followers she has or how well she can dance (stories that seem to dominate the news these days). But I do find her support of a 70% "super tax" to be idiotic, especially in light of how France's super tax devastated its economy. 

The main problem with France's 75% tax was emigration, as many French businesses decided to leave France for more welcoming shores. This business emigration led to a zero growth economy (Link) and revenues that were 14 billion euros shy of an expected 30 billion in tax collections (Link). 

As Forbes states: "This trend of emigration persisted at the macro level as an estimated 2.5 million French citizens now live abroad in the U.K., Belgium and other countries sporting more competitive income tax rates" (Link). In hopes of bringing businesses (and their tax revenues) back into its country, France eventually was forced to abandon its super tax. 

Cortez' zero percent growth plan, if passed, will undoubtedly have the same miserable results. Super taxes may sound great on paper, but their effects tend to chase businesses away. If Cortez' super tax pipe dreams come true, New York businesses - and the jobs that they provide - will be emigrating at a mind boggling pace.

Which Country Has the World's Biggest Economy?

China used to be an authentically communist country, and this led to at least 36 million Chinese people starving to death during the great famine of China (Link). In response, China finally reformed their economy in 1978, switching to a capitalist / free market system (Link). This year (2014), China will pass the United States as the world's leading economic power (Link). 

I am currently living in Shenzhen, China, and on a daily basis I am witnessing the growing prosperity here. Disturbing pictures of starving people have been replaced by cities filled with rising skyscrapers and streets filled with expensive cars. Of course, there are still income inequality problems in China. However, this is a better problem to have than a country filled with zero income households. In fact, after replacing communism with free market capitalism, China is quickly becoming the richest country in the world.

Which system do you think works better, a communist system or a free market system?