AOC Plans Bill To Boost Top Individual Tax Rate To 59%

AOC Plans Bill To Boost Top Individual Tax Rate To 59%
Photo Credit: Joseph Stalin Carpet, Joseph Stalin Museum by Andrew Milligan sumo is licensed under Flickr CC BY 2.0
Democratic Representatives Alexandria Ocasio-Cortez & Jan Schakowsky are working on legislation that would nearly double the top individual U.S. tax rate to 59% on the highest incomes.

The bill, which is still being drafted, also would increase capital gains rates to equalize them with income taxes and move to a so-called "mark-to-market system".

That would require individuals to pay taxes annually on the appreciation of their investments, real estate and business holdings.

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