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| To soak the rich, keep tax rates low by Jeff Jacoby The Boston Globe February 10, 2019 http://www.jeffjacoby.com/22340/to-soak-the-rich-keep-tax-rates-low Left-wing Democrats, including Elizabeth Warren, Alexandria Ocasio-Cortez, and Bernie Sanders, are clamoring for steep tax hikes on the wealthy.SOAK-THE-RICH tax schemes are in vogue on the left these days.Democratic Party heartthrob Alexandria Ocasio-Cortez made a splash last month when she went on “60 Minutes” and proposed a 70 percent marginal tax rate on incomes over $10 million. “People are going to have to start paying their fair share in taxes,” she said.From Senator Elizabeth Warren comes a proposal to levy an annual wealth tax on the net worth of American households with more than $50 million in assets. Vermont Senator Bernie Sanders has drafted a proposal to sharply increase the federal estate tax, imposing a top rate of 77 percent on estates worth more than $1… |
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