New York socialists calling for higher taxes aim to spread the tax net far beyond Wall Street, scooping up folks on Main Street—especially in the suburbs.
Bemoaning “violent budget cuts” at New York City agencies, Rep. Alexandria Ocasio-Cortez and her ideological allies are calling on the city and state to “fund resources for all New Yorkers” by raising taxes on the top 5% of New Yorkers. Considering the left’s prior focus on “the 1%,” this is a major development.
The top 1% of New Yorkers begins just south of $1 million in adjusted gross income. But the top 5% begins a little above $250,000—translating into married couples making $127,000 each.
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