Is there a price cap on morality? Alexandria Ocasio-Cortez says 'Yes'
During an appearance on the series premiere of Showtime's late-night talk show "Desus & Mero," Representative Alexandria Ocasio-Cortez, D-N.Y., asked the question, "Isn't $10 million enough? When does it stop? At what point is it immoral?"
The freshman Congresswoman discussed the topic in relation to her proposed 70 percent wealth tax that would impact those who make over $10 million.
Morris Pearl, former BlackRock managing director and chairman of Patriotic Millionaires, defended the Congresswoman's statement on FOX Business’ “Bulls & Bears."
“People like me, investors, pay a tax rate of 15 to 20 percent," he said on Friday. "I think having people who make income by capital gains, those people should pay their fair share of taxes too in addition to the people who actually work for a living. There's no reason why I should have a much lower tax rate than everyone else does who actually has to work.”
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Ocasio-Cortez's plan comes at a time where many Democrats, including 2020 presidential candidate, Democratic Senator Elizabeth Warren of Massachusetts has pushed for a similar plan.