Money | Taking from the rich still won’t pay for Democrats’ dream programs
by Stephen Patton
Posted 3/28/19, 02:58 pm
As April 15, income tax day, approaches, Congressional Democrats are proposing significant increases in taxes to fund new programs. U.S. Rep. Alexandria Ocasio-Cortez, D-N.Y., has proposed a 70 percent federal income tax on incomes above $10 million. Other Democrats have proposed similar levies. Proposals such as providing Medicare for all and the Green New Deal would require significant new expenditures and revenue to support them.
Is it really possible to tax the rich to fund fully such new initiatives?