The idea that conservatives are generally upset over a video of Rep. Alexandria Ocasio-Cortez imitating the dance scene from “The Breakfast Club” may be a textbook example of fake news. In contrast, her proposal for a “Green New Deal” is real news, but fake policy.
In a “60 Minutes” interview that aired Sunday, the darling of democratic socialism proposed eliminating carbon emissions within 12 years. Ocasio-Cortez has previously avoided specifying how she would pay for her “Green New Deal.”
The “Frequently Asked Questions” section accompanying her draft resolution claims it could be funded in the “same ways that we paid for the 2008 bank bailout and extended quantitative easing programs, the same ways we paid for World War II and many other wars. The Federal Reserve can extend credit to power these projects and investments, new public banks can be created (as in WWII) to extend credit and a combination of various taxation tools (including taxes on carbon and other emissions and progressive wealth taxes) can be employed.” The war metaphor is among the classics of collectivism.
Ocasio-Cortez now falls back on the comforting myth that everything is affordable by soaking the rich with higher income taxes. She told Anderson Cooper that “once you get to, like, the tippy tops, on your 10 millionth dollar, sometimes you see tax rates as high as 60 or 70 percent. That doesn’t mean all $10 million are taxed at an extremely high rate, but it means that as you climb up this ladder you should be contributing more.” . . .
In a nutshell (where Ocasio-Cortez is dwelling, policy-wise), the problem is that our technological capacities are not quite what they are in the Marvel Cinematic Universe. According to Tom Pyle, president of the Institute for Energy Research: “One hundred percent renewable energy defies the laws of physics. It would be impossible to achieve.” There is no Tony Stark here with an Arc Reactor for everyone. Instead, we have Elon Musk, sparking up like Bob Marley after years of government subsidies. (Read more from “Alexandria Ocasio-Cortez’s ‘Green New Deal’ Is Powered by Unicorns” HERE)