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The 70% marginal tax rate is only the beginning of a fair system

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Alexandria Ocasio-Cortez has begun a better tax debate, but we still need to close loopholes, not just raise rates. There’s a wonderful clarity to New York Rep. Alexandria Ocasio-Cortez’s call for a 70 percent marginal tax rate on incomes over $10 million. Compare it to past Democratic or progressive efforts to nudge up taxes on the superwealthy, which inevitably became mired in complexity as they...

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