Jan. 7, 2019

Alexandria Ocasio-Cortez, a freshman in the US Congress backed the concept of a "Green New Deal", which would need billions of dollars to develop the renewable energy. Therefore, she suggested that taxes on the wealthy should be raised to 70%, the highest degree since 1980.

Alexandria Ocasio-Cortez was interviewed in "60 Minutes" on January 6. Though the plan was an absolute contrast to the Tax Cuts in 2017, it would only impose the 70% tax on those whose annual income reached more than $10 million. It is estimated that only 140,000 tax payers are able to make so much money.

Many developed countries around the world have high tax rates and their people enjoy much higher living standards than those in the US. For example, Sweden’s top rate is 70 percent and it is ranked No. 11, compared to America’s No. 25 when it comes to meeting people’s “basic human needs”.