Only the money after the first $10M

the phrase after is important

Yes

she makes no distinction between effective or not

She shows she understands the different though

*difference

Not all the $10M is taxed at 70%. That was never the plan, and AOC understand that

She doesn't

she just says a progressive tax rate

after 10 million

Which doesn't distinct effective tax rate

because the highest tax rate was 45% effectively

there was no "progression"

I highlighted it for you

Yeah she outlines a progressive system after that

Not all $10M is taxed at 70%, which is what separates a marginal rate from an effective rate

Yes

which is not the case

A progressive marginal rate

because there is no progression

There is

she doesn't understand the effective tax rate

Even if you only pay 40% effective rate on a 70% marginal rate, that’s still more than the 15% effective or marginal people at the bottom pay

We don't know the effective of rich people now

most likely more of their money is taxed so the effective rate is closer to the marginal rate

Here’s a graph

marginal?

Top marginal rate of 39.6% in 2010

That’s an effective graph

*Effective rate graph

Seems close

yeah thats my point

35% top marginal rate in the 2000s

Look at the 80s when the top was 28%

That’s 15pp below

but it's not 50%

in the 80s when it was 28%, the marginal rate was close to the effective

It seems to be the same for lower taxes

The top marginal rate was 70% until early 80s then 50% until mid 80s, I believe

So if anything raising tax rates now would *decrease* revenue as the highest rate is 37% now

it was 29%