As Stein details in his reporting, as you increase the top rate or broaden the number of people you include in that upper-most bracket, of course the revenue rises as well. Using different scenarios, he explains that “a 1 percent wealth tax on the wealthiest 1 percent of households above $10 million could raise about $200 billion a year, or $2 trillion over 10 years.” Separately, “a 0.5 percent wealth tax on the top 1 percent could raise at most $3 trillion over 10 years.”

Edward Wolff, a tax expert at New York University, put it this way to the Post: “You can get a hell of a lot of a money from taxing the 1 percent.”

In his column on the subject of Ocasio-Cortez’s comments, New York Magazine‘s Eric Levitz called the proposal “a moderate, evidence-based policy.” He wrote:

According to Krugman, while the GOP continue to claim the lower marginal tax rates on the wealthy help the economy, that claim has “no basis in research or in evidence.” Meanwhile, he noted in a tweeted, the economic growth rate has declined alongside the falling tax rates on high-income earners:

“So even as [Republicans] dunk on AOC as stupid or ignorant,” Krugman concluded, “she’s talking sense based on reputable economic research, while the whole GOP is talking nonsense from charlatans and cranks.”

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