Schultz: America doesn't want far-left ideas like Alexandria Ocasio-Cortez's 70% marginal tax

Howard Schultz: America doesn’t want far-left ideas like Alexandria Ocasio-Cortez’s 70% marginal tax targeting the wealthy

PUBLISHED AN HOUR AGO | UPDATED MOMENTS AGO

Matthew J. Belvedere
@MATT_BELVEDERE

KEY POINTS

The billionaire former Starbucks CEO says he could never run for president as a Democrat because the party has moved too far left.

“If I ran as a Democrat, I would have to say things that I know in my heart I do not believe, and I would have to be disingenuous,” Schultz explains.

Schultz says the nation cannot afford the priorities of the far-left Democrats, including government-paid health care and government-paid college.

Billionaire former Starbucks CEO Howard Schultz is no fan of Rep. Alexandria Ocasio-Cortez’s proposal to slap a 70 percent marginal tax rate on income above $10 million.

In fact, in an interview Monday night, he cited her idea as one of the reasons could never run for president as a Democrat. Schultz believes the party has moved too far left and he doesn’t believe in their tax and spending priorities.

“I respect the Democratic Party. I no longer feel affiliated because I don’t know their views represent the majority of Americans. I don’t think we want a 70 percent income tax in America,” Schultz told CNBC’s Andrew Ross Sorkin in New York City.

However, polls have shown that voters generally approve of the idea of a taxing the wealthy at a higher rate. Indeed, a recent Hill-HarrisX survey of 1,001 registered voters found that 59 percent supported Ocasio-Cortez’s proposal. A Fox News poll published last week found that 70 percent of registered voters backed hiking taxes for families making more than $10 million a year.

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https://www.cnbc.com/2019/01/29/howard-schultz-america-does-not-want-ocasio-cortezs-70percent-wealth-tax.html