Would Alexandria Ocasio-Cortez’s 70% tax proposal work in UK?

Newly elected Democratic congresswoman has floated idea of wealth tax in the US

Alexandria Ocasio-Cortez, the newly elected Democratic congresswoman, has floated the idea of US income tax rates as high as 70%. Although only an idea for now, her intervention raises questions over whether such a policy might work in another country with sharp economic divisions: the UK.

Her proposal would apply to income above $10m (£7.8m) a year. Ocasio-Cortez argued that the wealthiest Americans needed to pay their fair share of taxes to help fund a “Green New Deal” for the US to combat climate change, while also tackling inequality.

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from The Guardian http://bit.ly/2SObcQk

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