A Green New Deal Would Entail Taxing the Rich – How Will This Work?

Democratic firebrand Alexandria Ocasio Cortez has ignited discussion on taxes in the United States. Appearing in 60 Minutes, the New York Congresswoman floated the idea of revising the tax system to ensure it really is progressive, and in order to fund her party's proposal for a Green New Deal. 

The news have riled with commentary both in favor and against the proposal. This doesn't mean she wants to impose a 70% tax on pretty much anyone, but rather establish a system that effectively guarantees the rich pay a more sizeable portion of their income, in order to fund key measures to promote fairness and a move away from a carbon-based economy; details still need to be worked out.

For casual observers of US policy, however, it might be best to listen to Vox's Matt Yglesias, Ezra Klein and Jane Coaston analyze: What's really been said and proposed, what are some of the moral and economics of the matter, and whether we actually know a similar system would be effective in achieving its goals. 

In short: AOC's proposal is being overblown by the media because it is one of the fundamental disagreements between both sides of the political divide. The science is not conclusive on the full effects on redistribution such a tax system would have. And it probably faces an uphill battle to be implemented.

The conversation, however, is quite nuanced and goes into the details of what's being discussed at present. A hard find in today's media climate.