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Alexandria Ocasio-Cortez Has A Plan To Tax The Super Wealthy
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13 Jan 2019 01:12 PM EST

America operates on a progressive tax system. That means as a person earns more and progresses through tax brackets, their tax rate increases for each level of income. Rep. Alexandria Ocasio-Cortez of New York has touted a plan that would tax Americans earning more than $10 million at a rate as high as 70%. Under America's progressive tax system, that means Americans earning more than $10 million wouldn't owe 70% of their total income on taxes; they would owe 70% of the income they earned only after a certain point.

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