If we are serious about tackling climate change, this is precisely the kind of policy we need to see
Alexandria Ocasio-Cortez has continued to show her power to steer the national political conversation. In an interview, Ocasio-Cortez suggested offhandedly that income above $10m may need to be taxed up to 70%, especially if we are going to get serious about halting climate change. Her idea instantly sparked indignant replies from the right. Grover Norquist compared it to slavery. National Review’s Brian Riedl called it “completely destructive”. Steve Scalise said she wanted to “take away 70% of your income and give it to leftist fantasy programs”.
Many critics attempt to confuse people over what Ocasio-Cortez said. Just to be clear: she said that when people earn $10m, the 10 millionth dollar and above should be taxed at a high rate. So unless you earn $10m, she’s not talking about “your” income. These are marginal tax rates, though the Republican party loves to trick people by conflating taxes that apply solely to the unfathomably rich with taxes that apply to ordinary workers.
Continue reading...from The Guardian http://bit.ly/2FeZHyj
