Alexandria Ocasio-Cortez’s plan to tax top earners 60–70% would supply billions of dollars, but how much would it cost Americans? It’s not entirely clear, Greenspan thinks its a bad idea — but not everyone feels that way.
70% Tax on the Super Rich
Michael K. Spencer
1K32

Should it be a flat 70% tax?

Imagine a 70% flat income tax for a person working in California.

13.3% state income tax on top of that.

83.3% of your income evaporates.

What’s the incentive to work, run a business?

For me it took 50% in taxes Federal, SS/Medicare to convince me to can the employees, become a sole proprietor working part time and limit my income.