News

Economy & Business

Ocasio-Cortez Calls for 70 Percent Tax on Wealthy to Fund Green New Deal

Democratic Congressional candidate Alexandria Ocasio-Cortez speaks in the Bronx, N.Y., November 1, 2018. (Jeenah Moon/REUTERS)

During a Sixty Minutes interview set to air Sunday, Representative Alexandria Ocasio-Cortez (D., N.Y.) suggested the government can fund her ambitious “green new deal agenda by imposing a 70 percent income tax on the wealthiest Americans.

In a clip of the interview released Friday, Ocasio-Cortez argues more Americans should pay “their fair share” in taxes to fund an extensive clean energy infrastructure initiative she and her fellow freshman progressive lawmakers have dubbed the “green new deal.

Pressed by CNN’s Anderson Cooper on the specifics of her taxation plan, Ocasio-Cortez proposed a drastic income tax increase on the wealthiest Americans and labeled herself a “radical in the mold of Abraham Lincoln and Franklin Roosevelt.

“But once you get to the tippie tops, on your $10 millionth, sometimes you see tax rates as high as 60% or 70%. That doesn’t mean all $10 million are taxed at an extremely high rate. But it means that as you climb up this ladder, you should be contributing more,” she said.

Cooper responded by characterizing the proposal as a “radical agenda.”

“If that’s what radical means, call me a radical,” Ocasio-Cortez responded.

A self-described democratic socialist who unseated incumbent Joe Crowley in New York’s 14th district in November, Ocasio-Cortez has embraced a deeply progressive agenda that includes tuition-free higher education and universal health care. She sparred with Democratic leadership in the weeks leading up to her swearing in over the creation of a special select committee dedicated to combatting climate change — a proposal older, establishment Democrats rejected as unnecessarily disruptive.

In describing the “green new deal” on previous occasions, Ocasio-Cortez has suggested the initiative would not only combat climate change but also redress racial grievances and spur economic growth.

“We can use the transition to 100 percent [renewable] energy as the vehicle to truly deliver and establish economic, social, and racial justice in the United States of America,” Ocasio-Cortez said during a panel discussion on Capitol Hill with Vermont senator Bernie Sanders and environmental activist Bill McKibben.

Most Popular

Culture

What We’ve Learned about Jussie Smollett

It’s been a few weeks since March 26, when all charges against Jussie Smollett were dropped and the actor declared that his version of events had been proven correct. How’s that going? Smollett’s celebrity defenders have gone quiet. His publicists and lawyers are dodging reporters. The @StandwithJussie ... Read More
Politics & Policy

The Lessons of the Mueller Probe

Editor’s Note: The following is the written testimony submitted by Mr. McCarthy in connection with a hearing earlier today before the House Permanent Select Committee on Intelligence on the Mueller Report (specifically, the first volume of the report, which addresses Russia’s interference in the 2016 ... Read More
Elections

Kamala Harris Runs for Queen

I’m going to let you in on a secret about the 2020 presidential contest: Unless unforeseen circumstances lead to a true wave election, the legislative stakes will be extremely low. The odds are heavily stacked against Democrats’ retaking the Senate, and that means that even if a Democrat wins the White House, ... Read More
World

Why Are the Western Middle Classes So Angry?

What is going on with the unending Brexit drama, the aftershocks of Donald Trump’s election, and the “yellow vests” protests in France? What drives the growing estrangement of southern and eastern Europe from the European Union establishment? What fuels the anti-EU themes of recent European elections and ... Read More
Energy & Environment

The Climate Trap for Democrats

The more the climate debate changes, the more it stays the same. Polls show that the public is worried about climate change, but that doesn’t mean that it is any more ready to bear any burden or pay any price to combat it. If President Donald Trump claws his way to victory again in Pennsylvania and the ... Read More
White House

Sarah Sanders to Resign at End of June

Sarah Huckabee Sanders will resign from her position as White House press secretary at the end of the month, President Trump announced on Twitter Thursday afternoon. https://twitter.com/realDonaldTrump/status/1139263782142787585 Sanders, the daughter of former Arkansas governor Mike Huckabee, succeeded Sean ... Read More
Politics & Policy

But Why Is Guatemala Hungry?

I really, really don’t want to be on the “Nicolas Kristof Wrote Something Dumb” beat, but, Jiminy Cricket! Kristof has taken a trip to Guatemala, with a young woman from Arizona State University in tow. “My annual win-a-trip journey,” he writes. Reporting from Guatemala, he discovers that many ... Read More