Thread by @scottsantens

@AOC For those who don't understand marginal tax rates, if we created a new income bracket of 70% at $10M, and you earned $10,000,001, you would only pay a 70% rate on $1 not the other $10 million. It's a way of encouraging CEOs to give raises to their employees instead of themselves.

@AOC Btw, if you think a marginal tax rate of 70% would cause the rich to work less, you should also realize that the way welfare works is to create marginal tax rates of 70% and even above 100% on those with low incomes. No one faces higher marginal tax rates than welfare recipients.

@AOC People look at those facing a 90% marginal tax rate and call them lazy for not agreeing to work in a job they don't want for 10 cents on the dollar. Work requirements are then proposed. If you want people to work, just stop punishing them for working…

prospectmagazine.co.uk/other/what-peo…

@AOC By universalizing benefits through policies like Medicare for All and Unconditional Basic Income, we will create lower marginal tax rates at the bottom of the labor market. People with low or no incomes could then earn as much as they want without their benefits being withdrawn.

@AOC Universal programs are also much more resilient to attack because everyone receives and benefits from them, and thus they also lack stigma. We don't make public school only available to the kids of households earning less than $50000. Universalism is key.

sitra.fi/en/articles/ba…