It's no surprise around here that I pretty much hero worship Alexandria Ocasio-Cortez and when she does something as simple as wear red lipstick to symbolize change I am stoked. She's doing some major work in Washington to help rectify the many problems we have, however, and one of them is tax reform. Ocasio-Cortez is an expert in economics, with a degree in economics and international relations, and her idea to reinstate a 70% tax on the wealthiest Americans isn't even new. It's something we used to do--and it worked.
Ocasio-Cortez recently schooled Twitter followers on the concept, as many assumed it simply means taxing all of one's income by 70%, which is a ridiculous concept. In this thread, you can see her break down the math in a simpler way to illustrate not only how it works only after the richest of the rich have had an enormous cut, but how it's even been used in the past. In fact, we've had higher tax rates in the past on the wealthiest citizens, which is one reason why the country used to prosper so much and the middle class was bigger.
What do you think of the Congresswoman's tax plan?