In an interview with Anderson Cooper scheduled for broadcast on CBS’ “60 Minutes” Sunday, Alexandria Ocasio-Cortez suggested implementing an income tax rate of up to 70 percent on wealthy Americans to pay for the so-called Green New Deal, a program to move the country toward zero carbon emissions.
“People are going to have to start paying their fair share in taxes. You look at our tax rates back in the ’60s and when you have a progressive tax rate system your tax rate, you know, let’s say, from zero to $75,000, maybe 10 percent or 15 percent, etc. But once you get to, like, the tippy tops — on your 10-millionth dollar — sometimes you see tax rates as high as 60 or 70 percent.” – Alexandria Ocasio-Cortez.
“That doesn’t mean all $10 million [earners] are taxed at an extremely high rate. But it means that as you climb up this ladder you should be contributing more.” – Alexandria Ocasio-Cortez.
Ocasio-Cortez’s climate plan would reduce U.S. carbon emissions to zero — and eliminate the use of fossil fuels — within 12 years.
“It’s going to require a lot of rapid change that we don’t even conceive as possible right now,” she said. “What is the problem with trying to push our technological capacities to the furthest extent possible?”
When Cooper suggested her plan to pay for it was “radical,” Ocasio-Cortez embraced the label.
“Well, I think that it only has ever been radicals that have changed this country,” she said. “Abraham Lincoln made the radical decision to sign the Emancipation Proclamation. Franklin Delano Roosevelt made the radical decision to embark on establishing programs like Social Security. That is radical.”
“Yeah. You know, if that’s what radical means, call me a radical,” she replied.