Former Democrat Senate leader warns against push for 70% tax rate

OAN Newsroom
UPDATED 9:52 AM PT — Tuesday, January 15, 2018

A former Democrat Senate majority leader is warning against Alexandria Ocasio-Cortez’s proposal to raise taxes.

In an interview published Sunday, Harry Reid suggested those backing a 70-percent marginal tax rate have to be careful because the American people do not want “radical change quickly.”

FILE – In this Dec. 8, 2016 file photo then Sen. Harry Reid, D-Nev., speaks during a ceremony on Capitol Hill in Washington. R(AP Photo/Evan Vucci, File)

Under Ocasio-Cortez’s proposal, Americans earning more than $10 million a year would see their income tax rate skyrocket from the current 37-percent.

Some on the left have used Denmark as the model for raising income taxes on the upper class, which tax activists have argued would actually take a toll on the middle class.

Ocasio-Cortez has continued to push for radical changes, which is something that veteran lawmakers, including her own party, have warned against pushing for.

This comes as the 2020 elections are right around the corner, where many progressive Democrat candidates could use this tax proposal as a campaign platform.

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