Washington Post columnist Megan McArdle pointed out that the real proverbial elephant in the room when discussing Rep. Alexandria Ocasio-Cortez’s “tax the rich” dress is that the Met Gala is a charity fundraiser and the cost of the Queens socialist’s ticket is a tax deduction for the wealthy patron who paid for her to go:
The essence of the Met Gala is that ultra-rich people pay huge sums to meet and be photographed with celebrities … and then deduct their night out from their taxes. Why has no one pointed out that Alexandria Ocasio Cortez wore a "tax the rich" dress *to a tax shelter*?
— Megan McArdle (@asymmetricinfo) September 14, 2021
And AOC just doesn’t get it:
This is what I mean about the unintentional hilarity of it all. The layers run so deep, I just can't stop thinking about it. It's magnificent.
— Megan McArdle (@asymmetricinfo) September 14, 2021
Keep in mind, the wealthy patron is getting something of value, too:
The IRS should try to estimate the fair market value of the celebrity exposure and add that to the non-deductible portion of the ticket price.
— Josh Barro (@jbarro) September 14, 2021
McArdle added that if AOC got her wish to increase taxes on the rich that it would just make events like the Met Gala “more common, not less”:
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You do understand that if taxes go up, deductions get more, rather than less valuable, and ultra-exclusive charity parties like the Met Gala become more common, not less, right?
— Megan McArdle (@asymmetricinfo) September 14, 2021
AOC doubled down over on Instagram, saying she was just trying to ensure that “cultural institutions are accessible to the public”:
Exit questions: How many of the rich people that she met are donating to this food bank?
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