They are tripping over each other to take more and more of the people's money.
Democrats eyeing bids for the White House also are competing to see who is willing to go the highest in raising taxes.
Rep. Alexandria Ocasio-Cortez, a New York liberal who is too young constitutionally to become president, nevertheless set a benchmark when she suggested in a “60 Minutes” interview Sunday that rates for the wealthy could top out at up to 70 percent.
Julian Castro, an Obama administration Cabinet official who has announced a testing-the-waters presidential committee, quickly jumped on the bandwagon by telling ABC News that it’s time the wealthy be tapped for their “fair share.”
“There was a time in this country where the top marginal tax rate was over 90 percent,” Mr. Castro said in praising Ms. Ocasio-Cortez’s vision. “Even during Reagan’s era in the 1980s, it was around 50 percent.”
Sen. Elizabeth Warren, a Massachusetts Democrat, who also has formed a presidential exploratory committee, hasn’t committed to a high-water mark, but she too spoke approvingly of major rate hikes.
“Look, there was a time in a very prosperous America — an America that was growing a middle class, an America in which working families were doing better generation after generation after generation — where the top marginal rate was well above 50 percent,” Ms. Warren said on CNBC in July. “Ninety percent sounds pretty shockingly high. But what I’m trying to get at is this is not about negotiating over specific numbers.”
Democrats eyeing bids for the White House also are competing to see who is willing to go the highest in raising taxes.
Rep. Alexandria Ocasio-Cortez, a New York liberal who is too young constitutionally to become president, nevertheless set a benchmark when she suggested in a “60 Minutes” interview Sunday that rates for the wealthy could top out at up to 70 percent.
Julian Castro, an Obama administration Cabinet official who has announced a testing-the-waters presidential committee, quickly jumped on the bandwagon by telling ABC News that it’s time the wealthy be tapped for their “fair share.”
“There was a time in this country where the top marginal tax rate was over 90 percent,” Mr. Castro said in praising Ms. Ocasio-Cortez’s vision. “Even during Reagan’s era in the 1980s, it was around 50 percent.”
Sen. Elizabeth Warren, a Massachusetts Democrat, who also has formed a presidential exploratory committee, hasn’t committed to a high-water mark, but she too spoke approvingly of major rate hikes.
“Look, there was a time in a very prosperous America — an America that was growing a middle class, an America in which working families were doing better generation after generation after generation — where the top marginal rate was well above 50 percent,” Ms. Warren said on CNBC in July. “Ninety percent sounds pretty shockingly high. But what I’m trying to get at is this is not about negotiating over specific numbers.”
