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Taxing Wealthy Gaining Big Support

Will this presidential election be the most important in American history?

The idea of taxing the wealthy, promoted by New York Democrat Representative Alexandria Ocasio-Cortez and Massachusetts Democrat Senator Elizabeth Warren, is supported by a significant majority of voters.

Politico reports:

Surveys are showing overwhelming support for raising taxes on top earners, including a new POLITICO/Morning Consult poll released Monday that found 76 percent of registered voters believe the wealthiest Americans should pay more in taxes. A recent Fox News survey showed that 70 percent of Americans favor raising taxes on those earning over $10 million — including 54 percent of Republicans.

Ocasio-Cortez is proposing taxing those who make more than $10 million at a 70 percent rate.

Fox News reports:

Ocasio-Cortez, the self-described Democratic socialist, suggested imposing a 70 percent rate on those with incomes in excess of $10 million during an interview on “60 Minutes” last month to pay for a 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.

After the Super Bowl, Ocasio-Cortez responded to a Tweet from Texas Republican Representative Dan Crenshaw to explain how her tax rate proposal would impact NFL owners but not the players.

Meanwhile, Warren has her own idea of taxing the wealthy.

The Massachusetts Senator wants a two percent annual tax on assets that exceed $50 million and a three percent tax for those that have assets with more than $1 billion.

In a head-to-head comparison, Warren’s plan has more support than Ocasio-Cortez.

Morning Consult reports:

Taxing the wealthy has become a progressive rallying cry as Sen. Elizabeth Warren (D-Mass.) and Rep. Alexandria Ocasio-Cortez (D-N.Y.) have proposed legislation to impose levies on the richest people in the country as a way to battle economic inequality.

Between the two proposals, Warren’s wealth tax is the more popular among voters, according to a new Morning Consult/Politico survey.

Sixty-one percent of the 1,993 voters surveyed in the Feb. 1-2 poll favored Warren’s “ultra-millionaire” plan, which is an annual tax of 2 percent on household wealth more than $50 million and a 3 percent levy on wealth in excess of $1 billion.

Public support for taxing the wealthy is a warning sign the far-Left idea is taking root and will likely be a top priority for Democrats running for president in 2020.

Tom Borelli

Dr. Tom Borelli is a Newsmax TV contributor and radio commentator addressing political issues from a conservative grassroots perspective. As a columnist, he has written for The Washington Times and authored articles for Newsmax Magazine, Newsmax Insider and previously was a co-host with his wife Deneen Borelli on the SiriusXM Patriot channel. Dr. Borelli appeared on numerous television programs, including the highly ranked Fox News Channel’s “The O’Reilly Factor,” “Hannity,” “The Kelly File," and "America’s News Headquarters." He has also appeared on Fox Business Network’s “Making Money with Charles Payne” and “After the Bell” as well as TheBlaze TV’s "The Glenn Beck Program" and "Dana!" Prior to working for public policy organizations, Dr. Borelli was a managing partner with the investment advisory firm of Action Fund Management, LLC and a portfolio manager for the Free Enterprise Action Fund (FEAF) where he used shareholder activism to challenge corporations that sought to profit from the growth of government. During his 25 years with the Altria Group, Inc., he built a foundation in public policy and issues management, drawing from diverse experiences ranging from basic research to corporate affairs. Dr. Borelli served as science fellow for the U.S. House of Representatives' Committee on Science, Space, and Technology during the 100th Congress. Dr. Borelli has also published scientific papers on interferon and human leukemia.

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