70% Rate: The Taxwoman Cometh
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In an interview on 60
Minutes, Congresswoman Alexandria Ocasio-Cortez asserted that it’s worth considering a 70% top marginal tax rate on incomes over $10 million to help pay for new federal programs like the “Green New Deal.” According to Representative Ocasio-Cortez, “People are going to have to start paying their fair share in taxes. As you climb this income ladder, you should be contributing more.” As one would expect, her controversial comments immediately ignited a firestorm of a debate.
