What Would Happen if We Returned to the 70% Top Tax Rate?

Alexandria Ocasio-Cortez (D-NY) has been shopping the idea of a 70% top rate of tax on earnings above $10 million. It’s popular proposal, with initial polling showing a solid majority of Americans in favour. While this policy can’t pass this congress, it’s indicative of the kinds of reforms we might see if we organise to elect more politicians like AOC in 2020 and beyond. So what would happen if we elected more AOCs and they enacted this policy?

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