ewly minted Democratic New York Representative Alexandria Ocasio-Cortez recently proposed imposing a 70 percent income tax on the country’s highest earning citizens to pay for a new green energy plan – an idea that tax experts say doesn’t make much sense.
Ocasio-Cortez, the self-described Democratic socialist, suggested imposing the 70 percent rate on those with incomes in excess of $10 million during an interview on “60 Minutes” to pay for the so-called “Green New Deal” — which would be a massive investment in clean energy infrastructure, aiming to eliminate carbon emissions in a little more than a decade.