Julian Castro supports massive tax hike for wealthy elite
Likely 2020 Democratic presidential candidate Julian Castro threw his support behind Rep. Alexandria Ocasio-Cortez’ idea to massively increase tax rates for the top earners in the U.S.
“Oh, I can support folks at the top paying theirfair share,” Mr. Castro said Sunday on ABC’s “This Week” when asked about the new congresswoman’s proposed hikes.
Ms. Ocasio-Cortez floated the idea that the “tippy-tops” could pay about 60 to 70 percent if they earn more than $10 million.
“There was a time in this country where the top marginal tax rate was over 90 percent,” Mr. Castro said. “Even during Reagan’s era in the 1980s, it was around 50 percent.”
Mr. Castro said the taxes should go to support programs such as Medicare For All, a key progressive policy priority. He also suggested raising the corporate tax rate to ensure the companies “pay their fair share.”
The former Housing and Urban Development secretary outlined several other big figure programs he wants to pursue, including universal higher education and raising the minimum wage.
“I’m not going to be a single-issue candidate if I run,” he said.
Mr. Castro, one of the highest-profile Democrats mulling a 2020 presidential run, announced last month that he has put together an exploratory committee as he looks into casting a bid.