Howard Schultz: America doesn’t want far-left ideas like Alexandria Ocasio-Cortez’s 70% marginal tax targeting the wealthy

[WestVirginiaRebel]

CNBC

Billionaire former Starbucks CEO Howard Schultz is no fan of Rep. Alexandria Ocasio-Cortez’s proposal to slap a 70 percent marginal tax rate on income above $10 million.

In an interview Monday night, he cited her idea as one of the reasons he could never run for president as a Democrat. Schultz believes the party has moved too far left, and he doesn’t believe in their tax and spending priorities.

 

“I respect the Democratic Party. I no longer feel affiliated because I don’t know their views represent the majority of Americans. I don’t think we want a 70 percent income tax in America,” Schultz told CNBC’s Andrew Ross Sorkin in New York.

However, polls have shown that voters generally approve of the idea of taxing the wealthy at a higher rate. Indeed, a recent Hill-HarrisX survey of 1,001 registered voters found that 59 percent supported Ocasio-Cortez’s proposal. A Fox News poll published last week found that 70 percent of registered voters backed hiking taxes for families making more than $10 million a year.

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Sometimes public opinion is wrong...

 

[Valin]