Gabe Lipton is the Associate Editor of Signal responsible for editorial execution of GZERO Media's written newsletter content. He holds degrees in Government and Economics from Wesleyan University, where he was a member of the international economic honors society, and is studying German in his spare time. At the age of 11, the Green Goblin (Willem Dafoe) confirmed (in person) his take on an important political question of the day, forever sealing his fate as a close observer of global politics. His Spidey powers leave much to be desired.
Freshman US Congresswoman Alexandria Ocasio-Cortez made waves in recent days with her suggestion that the US raise its top marginal tax rate to 70 percent for income over $10 million dollars.
To clarify, this does not mean taking 70 percent of everyone's income. It means the government would take 70 percent of any income above $10 million dollars. Currently the top tax rate in the US is 37 percent, but just a few decades ago it was nearly twice that level. Here's how top tax rates have evolved since 1970 in some of the world's largest economies.
