AOC proposal to raise taxes won't 'ever be enough' warns WSJ op-ed
Fox News
New York City Democrats' proposal to expand tax hikes to the top 5% of earners in the state won't work, as higher earners flee the state, a Wall Street Journal op-ed warned.
"The vast majority of us have felt the strain of rising prices from the grocery aisle to the housing market. Meanwhile, the richest New Yorkers have grown their wealth since the pandemic, and it’s past time they pay their fair share," the statement by New York City Democratic Socialists explained. Kristine Parks is an associate editor for Fox News Digital. Read more.
But Empire Center for Public Policy President Tim Hoefer claimed Ocasio-Cortez was trying to "redefine" who the "rich" were in the state. In his WSJ op-ed, he argued that the top 5% of earners translated to married couples who make around $250,000 or more, or $127,000 each.