Where AOC’s ‘tax the rich’ dress clashes with progressive politics

Indeed, of the roughly $1 trillion that House Democrats propose to raise from high-income individuals, comparatively little is raised by closing loopholes of any sort; most of the new revenue would come from jacking up income and capital gains tax rates on individuals who make more than $400,000 a year, and from a special surtax on people making more than $5 million annually. That would, of course, be painful for the very rich, and Ocasio-Cortez’s never-never proposal for a 70 percent rate would pain them even more — but some more than others.