Alexandria Ocasio-Cortez, the 29-year-old New Yorker who recently became the youngest Congresswoman in history, says it's worth considering.
Scalise (R-La.) abruptly halted a Twitter debate with Ocasio-Cortez (D-N.Y.) on Sunday after several of her supporters made references to the June 2017 shooting in which Scalise and three other people were shot by a left-wing activist. That said, she is very new to all of this - she had never run for anything before she beat Rep. Joe Crowley in a primary last summer - and she makes beginner's mistakes. On raising taxes on the rich:"You know, it-you look at our tax rates back in the '60s and when you have a progressive tax rate system". That doesn't mean all $10 million dollars are taxed at an extremely high rate. Ocasio-Cortez's Green New Deal seeks to eliminate the use of fossil fuels within 12 years. But the high profile she already enjoys caries with it some responsibility. Again, there is no real plan.
And with 30 percent or less of Americans saying they have confidence in most of the country's institutions - just 11 percent of Americans said they had confidence in Congress in 2018-it seems that being painted as hostile to the country's center-right establishment makes politicians more popular, not less.
Sweden, by contrast, has a top marginal tax rate of 70 percent that kicks in at a mere $98,000 (and does not suffer any notable economic harms as a result, by the way). Those who advocate for very high marginal tax rates on the wealthy include some respected economists, including Nobel Prize-winner Peter Diamond. "It's unconvincing to try to pass this off as a rhetorical point being misread", wrote the Fact-Checker in awarding Ocasio-Cortez four Pinocchios. Data cited by the Washington Post indicates that as of 2016, only 16,000 tax filers - or 0.5% of US households - had income over $10 million. Pelosi is a favorite among moderately liberal Democrats, but her past leadership and policies have been a far cry from the progressive promises Ocasio-Cortez made during her campaign.More news: Mauricio Pochettino hints he wants to stay at Tottenham to win trophies
Not all of an individual's income is taxed at the same rate. The first is that much tax revenue pays for necessary services, many of which are universal even in the USA - roads, bridges, trains, airports, and so on.
It's by no means safe to assume that a future Democratic Congress willing to impose a 60 or 70 percent marginal tax rate also would resurrect the full SALT deduction.
But of greater effect is that excessive tax rates tend to stifle economic growth. One of the ways they would do that, Pomerleau said, would be to stop selling assets defined as capital gains, which make up the majority of the taxable income at the top of the ladder and are only taxed when they're sold. In sensible countries, what they are is a way to pay for nice goodies that benefit (almost) everyone.
"We shouldn't hinder ourselves from the start", Ocasio-Cortez said in a tweet.
He added, "Some folks wondered how much money this would raise". What exactly was the newly-elected, self-proclaimed radical proposing?