Brian Riedl, National Review
Representative Alexandria Ocasio-Cortez’s call for a 70 percent income-tax rate to finance green-energy initiatives has energized the Left. Yet this is completely destructive proposal. A 70 percent tax bracket would raise very little (if any) revenue, while damaging the economy and sending income and jobs overseas. While details of Ocasio-Cortez’s energy proposal are unavailable, former Green-party presidential candidate Jill Stein has proposed a “Green New Deal” costing between $700 billion and $1 trillion per year for public jobs and clean energy initiatives. That is roughly 4 percent of GDP. Read more here....