Americans overwhelmingly want the uber-rich to pay more taxes


A whopping 76 percent of registered voters think the richest Americans should pay more taxes.

Ever since freshman Rep. Alexandria Ocasio-Cortez (D-NY) proposed a 70 percent marginal tax rate on Americans earning more than $10 million a year, Republicans have been hysterically warning that Democrats will turn the United States into a version of socialist Venezuela.

However, a new poll out Monday shows most Americans simply don't share these fears. Taxing the ultra-rich is very, very popular, with more than three-quarters of registered voters supporting the idea.

According to a new Politico/Morning Consult survey, 76 percent of registered voters say the "wealthiest Americans" should pay more in taxes. That includes a majority, 54 percent, of Republican voters.

When asked about specific policies, 61 percent of registered voters backed a "wealth tax" similar to the one Sen. Elizabeth Warren (D-MA) proposed, which puts a 2 percent tax on people whose net worth exceeds $50 million.

And 45 percent of registered voters backed Ocasio-Cortez's 70 percent marginal tax rate proposal, compared to just 32 percent who opposed the plan.

This polling comes as GOP senators are proposing completely eliminating the estate tax — a huge tax cut that would only benefit a few thousand ultra-wealthy Americans.

Trump already gave wealthy heirs a gift when he signed last year's GOP tax scam, which doubled the estate tax exemption so that it only applied to individuals who inherit more than $11 million or couples who inherit more than $22 million.

Just 5,000 people in the entire United States were expected to file estate tax returns after the tax bill was passed, and just 1,700 were actually expected to pay it every year.

Now, Trump and the GOP want to make sure even those few super-rich people don't have to pay their fair share of taxes on super-high inheritances.

Republicans' focus on cutting taxes for the rich is clearly out of step with the voting public — which means Democrats' plans to raise taxes on the wealthiest Americans might actually help them in 2020.

Published with permission of The American Independent Foundation.