Would Alexandria Ocasio-Cortez’s 70% tax proposal work in UK?

Newly elected Democrat congresswoman has floated idea of wealth tax in the USAlexandria Ocasio-Cortez, the newly elected Democrat congresswoman, has floated the idea of US income tax rates as high as 70%. Although only an idea for now, her intervention raises questions over whether such a policy might work in another country with sharp economic divisions: the UK.Potentially applying to earnings above $10m a year, she argued that the wealthiest Americans needed to pay their “fair share” in taxes to help fund a “Green New Deal” for the US to combat climate change, while also tackling inequality. Continue reading…

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