Alexandria Ocasio-Cortez Sparks Debate Over 70 Percent Marginal Tax Rate

Headline Roundup January 15th, 2019

Rep. Alexandria Ocasio-Cortez has proposed a 70% tax on earnings over $10 million, drawing debate across the aisle as well as within the Democratic party over where the government should raise revenue. Some have criticized the new lawmaker for taking too drastic an approach, while others note that the top tax rate has been higher or just as high in the past.

Alexandria Ocasio-Cortez Sparks Debate Over 70 Percent Marginal Tax Rate

From the Left
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The congresswoman’s suggestion was that a 70 percent rate be applied only to earnings beyond $10 million.

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From the Right
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Former Nevada Democratic Sen. Majority Leader Harry Reid had some criticism for his party’s new star.

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From the Center
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The tax furor triggered by Rep. Alexandria Ocasio-Cortez has opened debate on a core question for all Democrats: Where should government get more money?

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