Two new Democratic proposals to slap taxes on the rich are enjoying substantial public support in opinion polls. Sen. Elizabeth Warren of Massachusetts, a presidential candidate from her part's left flank, has come out for a 2 per cent 'wealth tax' on households worth at least $50 million. Her plan performs better than one by new Rep. Alexandria Ocasio-Cortez, who came out for a 70 per cent income tax for those earning $10 million or more. One of President Trump's main legislative accomplishments included a steep reduction in corporate tax rates as well as income tax rate cuts. In January, a Hill-HarrisX poll of Ocasio-Cortez's plan shortly after she floated it showed 59 per cent support.

Source: Daily Mail February 04, 2019 15:36 UTC