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EconomicPolicyJournal.com: Alexandria Ocasio-Cortez Proposes Massive Tax Hike on the Wealthy

Posted by M. C. on January 6, 2019

Someone should tell her the upper 20% of taxpayers pay 80% of the taxes. The lower 50% of the citizenry pay nothing or get “free government money” back.  Pareto’s law.

http://www.economicpolicyjournal.com/2019/01/alexandria-ocasio-cortez-proposes.html#more

Alexandria Ocasio-Cortez Proposes Massive Tax Hike on the Wealthy

The 29-year old congresswoman, Alexandria Ocasio-Cortez, who just took office, says tax rates for the nation’s wealthiest should increase to as much 70 percent to fund a new initiative to combat climate change — even if that means she’s labeled a “radical.”

“If that’s what radical means, call me a radical,” she said in an interview with CBS’ “60 Minutes” that will air in full on Sunday.

“That is the goal. It’s ambitious,” she said. “It’s going to require a lot of rapid change that we don’t even conceive as possible right now. What is the problem with trying to push our technological capacities to the furthest extent possible?”

The plan could include “an element where people are going to have to start paying their fair share in taxes.”

“You know, you look at our tax rates back in the ’60s, and when you have a progressive tax rate system, your tax rate let’s say from zero to $75,000 may be 10 percent or 15 percent, etc.,” Ocasio-Cortez said.

“But once you get to the tippy-tops

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