As the youngest female member of the American history, the 29-year-old Alexandria Ocasio-Cortez has been fearlessly pursuing a controversial radical policy since her election.
On Sunday, she was interviewed by CBS for a 60-minute interview, calling for a 70% tax on the wealthy Americans, a promotion in her Green Plan.
Integrated foreign media reports, the Green New Deal includes the use of renewable resources to generate electricity, build a national smart grid, and reduce carbon emissions by 2030.
In order to promote this plan, Kotz said that he must follow the policy of former US President Ronald Reagan and impose a marginal tax rate of 70% on the rich.
The tax rate from zero to $75,000 may be 10% or 15%, but once you reach the top level, say $10 million, you should pay 60% or 70% of the tax... when you climb the ladder You should contribute more.
CBS News was published on the 7th local time, an article called Kotts wants to 'squeeze the rich'? In the report, it details the need to collect the rich tax and the need for taxation in the eyes of Kottz.
First of all, she must clarify that this is a progressive tax system based on US tax law: the lowest amount of income is taxed at the lowest rate, and then gradually increases as personal income increases.
For example, a person with a income of less than $9525 in the United States would have to pay a tax rate of 10%, while a person with a income above $9,026 and below $38,700 would have to pay a 12% tax.
Cotts stressed that the rich tax will apply to Americans with annual incomes above $10 million. It is roughly estimated that this group is only 140,000 people, so it has little impact on others.
In addition to this, Kotz also proposed that the economy will inevitably grow as the tax rate increases.
On the one hand, she believes that the imposition of a rich tax is unlikely to reduce the incentives for these multi-millionaires to remain affluent; on the other hand, this may encourage people to work in low-paying but socially beneficial jobs, such as teaching or research. .
A Harvard Business Review published a study that found that taxation by industry may significantly drive economic growth, such as providing tax incentives to teachers and levying higher taxes on hedge fund managers.
More importantly, Cotts proposes that only the levy of a rich tax can make the commitment of all working Americans to fair wages realistic. When you can't raise your child with one or two full-time jobs, how can you be dignified?
However, she also revealed that taxation may encourage the rich to find ways to avoid tax concerns.
For Kottz's assertion that a rich tax can encourage low-income people to work hard, VOX News quotes a data compiled by the US Atlantic Monthly:
On the economic front, three-quarters of Democrats say the government has not done enough to help the poor, compared with half in 1994.
Reversely, in 1994, two-thirds of Democrats praised hard work in exchange for a bright future. But now only half of them do it.
Cotts's practice is completely contrary to the US government's triumphant performance of US President Trump's 2017 US Tax Cuts and Employment Act. After the new bill was signed, the tax rate for people with annual incomes exceeding $10 million fell from 39.6% to 37%.
This also makes Coates' proposal a slogan for Trump. The founder of US tax reform, Grover Norquist, even refers to her approach to launching a new middle class taxpayer. The first shot of the round of war.
Steve Scaris, the third-ranking Republican in the US House of Representatives, also criticized this proposal from Cotts on social platforms.
Although many people ridicule Kotz's green new deal as a fantasy, ignorance, and even radical, she is not the only one who appeals to the rich to pay higher taxes.
In 2011, Warren Buffett wrote in an article in the New York Times called Stopping the Care of the Super Rich, calling for higher taxes on people with annual incomes of more than $1 million, but no specific tax rates.
The 2008 Nobel Laureate in Economics, Kruman, said that on tax issues, the tax increase proposal is indeed one of the arguments advocated by economists.
It is reported that if there are 16,000 rich people with incomes exceeding $10 million and the rich tax is paid, the federal government will increase the tax by $72 billion annually.
And for being criticized as a radical, Kotz said he is not afraid of being tagged: I think only radicals can change the country. Lincoln made a radical decision to sign the Emancipation Proclamation; Roosevelt made a radical decision to establish a social security plan.
If this is radical, then I am a radical.