3 ms·

No. The current top bracket is a few hundred thousand. https://www.bankrate.com/finance/taxes/tax-brackets.aspx https://www.bankrate.com/finance/taxes/tax-brac

No. The current top bracket is a few hundred thousand. https://www.bankrate.com/finance/taxes/tax-brackets.aspx https://www.bankrate.com/finance/taxes/tax-brackets.aspx Edit: To the people downvoting, I'm well aware that the current bracket won't be taxed at 70%. But there is a lot of room between $500K and $10 million. And I have feeling that there will be many brackets between the current top bracket and the new one.

ceejayoz 8y ago
The polling is not about raising the current highest tax bracket to 70%, it's about adding a new one. From the article: > The New York Democrat kicked off a debate within her party in a Jan. 6 interview with "60 Minutes" during which she said she would support setting the highest tax, which she said would kick in at individuals 10 millionth dollar of income, at 70 percent.
stouset 8y ago
Nobody I’m aware of is suggesting we tax the current top bracket at 70%, but that we make a new top bracket.
- jedmeyers 8y ago
  There is already a thing called AMT so a new top bracket makes zero sense.
  - ceejayoz 8y ago
    The AMT's top rate is 28%, a far cry from the proposed new 70% bracket.
deleted 8y ago
[deleted]
dwiel 8y ago
It is unfortunate that the poll asked about changing the highest tax bracket, whereas Ocasio-Cortez suggested creating a new $10m tax bracket. They are very different things. Edit: I stand corrected. The picture in the article doesn't mention the new $10m tax bracket, but the actual poll question did.
- dudul 8y ago
  That was the question. Scroll down and you'll see the details of the poll. The question was about taxing past $10M/year income.
- detaro 8y ago
  From the embedded results table at the bottom of the article: > "AB2: Currently the top tax rate is 37%. Would you favor or oppose a tax proposal that would apply a 70% rate to the 10 millionth dollar and beyond for individuals making $10 million a year or more in reportable income?"
dudul 8y ago
The question used in this poll seems to be "Do you favor a 70% tax rate to the 10th million dollar and above?"
dragonwriter 8y ago
> And I have feeling that there will be many brackets between the current top bracket and the new one. So, you are arguing against your feeling, and not the actual proposal at issue?

ceejayoz 8y ago

The polling is not about raising the current highest tax bracket to 70%, it's about adding a new one. From the article: > The New York Democrat kicked off a debate within her party in a Jan. 6 interview with "60 Minutes" during which she said she would support setting the highest tax, which she said would kick in at individuals 10 millionth dollar of income, at 70 percent.

stouset 8y ago

Nobody I’m aware of is suggesting we tax the current top bracket at 70%, but that we make a new top bracket.

jedmeyers 8y ago
There is already a thing called AMT so a new top bracket makes zero sense.
- ceejayoz 8y ago
  The AMT's top rate is 28%, a far cry from the proposed new 70% bracket.

deleted 8y ago

[deleted]

dwiel 8y ago

It is unfortunate that the poll asked about changing the highest tax bracket, whereas Ocasio-Cortez suggested creating a new $10m tax bracket. They are very different things. Edit: I stand corrected. The picture in the article doesn't mention the new $10m tax bracket, but the actual poll question did.

dudul 8y ago
That was the question. Scroll down and you'll see the details of the poll. The question was about taxing past $10M/year income.
detaro 8y ago
From the embedded results table at the bottom of the article: > "AB2: Currently the top tax rate is 37%. Would you favor or oppose a tax proposal that would apply a 70% rate to the 10 millionth dollar and beyond for individuals making $10 million a year or more in reportable income?"

dudul 8y ago

The question used in this poll seems to be "Do you favor a 70% tax rate to the 10th million dollar and above?"

dragonwriter 8y ago

> And I have feeling that there will be many brackets between the current top bracket and the new one. So, you are arguing against your feeling, and not the actual proposal at issue?