This is what you would get.
Elections have consequences. Just Senator Elizabeth Warren, who suggested that a 50% to 90% personal income tax rate for Americans is not out of the question. Warren made the shocking admission in an interview with CNBC.
Warren also promised that Democrats will end President Trump’s tax cuts if they take control of Congress in November 2018.
CNBC’s anti-Trump pundit, John Harwood, asked Warren: “If Democrats take the Congress…would you like to see these corporate tax cuts repealed?”
Senator Warren replied: “Yeah, I really want to see them rolled back.”
Question: “Back to 35%?”
Warren replied: “Well, it’s not about the number. Here’s how I look at budgets, and taxes are at the heart of this. A lot of people think they’re just numbers; they’re not. They are the expression of our values. The values of the Republican Party that passed those tax cuts are to give $1.5 trillion away to the richest Americans and the biggest corporations, and let everybody else pick up the crumbs.”
She added: “We need a budget, we need a tax bill that works for all of us. So what I’d like to see is I’d like to see us strengthen America’s middle class.”
Harwood asked: “What’s too high for the top personal rate? Is 50% obviously too high? When George W. Bush was president, his team articulated the view that…you shouldn’t have more than one-third of your income taken [through taxation]. Do you feel similarly that it’s wrong for more than one-half of somebody’s marginal income to be taken?”
Warren suggested that she does not think a 50% personal income tax rate is too high. “There was a time in a very prosperous America…where the top marginal rate was well above 50 percent,” she said.