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A 70% Marginal Tax Rate?
Jan 8, 2019 at 03:46 PM

The Quick Facts

  • On Sunday, during an interview with Anderson Cooper for 60 Minutes, Congresswoman Alexandria Ocasio-Cortez proposed raising the marginal tax rate to as high as 70 percent on the highest-earning Americans.
  • Marginal tax rates refer to the tax rate paid on the last dollar of income, not on the entire taxable income.
  • The idea was floated as a way to provide the funds needed for her “Green New Deal” goal of eliminating the use of fossil fuels within 12 years.
  • When Cooper called the proposed tax plan a “radical” move, Ocasio-Cortez responded: “I think that it only has ever been radicals that have changed this country. Yeah, if that’s what radical means, call me a radical.”
  • Ocasio-Cortez is a newly-elected, Democratic U.S. House Representative from New York.

Food For Thought

Should Ocasio-Cortez’s tax plan proposal be considered? Why or why not?

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