But no one expects an *effective* tax rate of 70%

If they wanted an effective rate of 70%, they would set an effective rate of 70%. But they only want a *marginal* rate of 70%.

And government should live within its long-term means anyways, but that’s unrelated to the current or proposed tax rate.

They want an effective tax rate

thats the whole point

mostlikely would try to close loopholes

Which will result in a crash

They can close loopholes

yes and that increases the tax rate closer to 70%

Which is a crash

And AOC herself said she knew 70% marginal wasn’t 70% effective

And intended the former and not the latter

where

Nobody says "effective tax"

they want to tax the rich 70%

but herself and bernie do not understand marginal tax rates doesn't mean the tax is paid at that rate

Where does it say

effective

“That doesn’t mean all $10M are taxed at an extremely high rate”

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