Alexandria Ocasio-Cortez wants to impose a 70% marginal tax rate on high-earners. Her argument: these people “…have to start paying their fair share in taxes.” Really, Alexandria? I think if anyone should start paying their fair share, it’s the socialists who expect everything to be free.
The truth is actually the other way around: the top 1% of earners in the United States paid 35.7% of all income taxes in 2016; less than 5% of tax returns paid more than 57% of all taxes; barely 17% of tax returns paid 80% of all taxes. Out of more than 150 million tax returns for 2016, 50 million paid no taxes at all. Sounds instead like the “rich” are paying far more than their share, Alexandria.