Rep. Alexandria Ocasio-Cortez has touted a marginal income tax rate of 60% to 70% for multimillionaire Americans to fund massive energy and infrastructure overhauls in a plan to lower the country’s carbon emissions to zero and eliminate fossil fuels in 10 years.
The New York representative said in a “60 Minutes” interview set to air Sunday that the new marginal tax rate would affect Americans making more than $10 million to help pay for the “Green New Deal.”
“Once you get to the tippy-tops, on your 10 millionth dollar, sometimes you see tax rates as high as 60% or 70%,” Ocasio-Cortez said. “That doesn’t mean all 10 million dollars are taxed at an extremely high rate. But it means that as you climb up this ladder, you should be contributing more.” Read more>>
