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FYI: Tax the rich, feed the poor, till there are no rich no more.”
Alvin Lee of Ten Years After appears to have been prescient in the British blues band’s sole hit single, “I’d Love to Change the World.” The 1971 tune anticipates what may emerge as the Democratic Party’s economic policy plank for next year’s presidential campaign.
First came the proposal for a 70% top marginal tax rate on incomes over $10 million floated by Alexandria Ocasio-Cortez, the newly elected 29-year-old member of Congress from the Bronx and Queens and an avowed democratic socialist. Not to be outdone by AOC, as this rising star on the left is known on social media, Sen. Elizabeth Warren of Massachusetts unveiled a plan for a wealth tax of 2% on assets over $50 million and 3% on fortunes over $1 billion. Regards, Ted https://www.barrons.com/articles/the-push-to-tax-the-rich-51548466129?mod=djem_b_Weekly Feed for Barrons Magazine
