every element of progressivity, from wilson and teddy roosevelt to franklin roosevelt to the great society, it builds on the progress of generations before, and for generations to come. this is nuts. [laughter] lisa: you can catch that entire interview garnering reactions on this count on wall street journal at large on fox business network tomorrow night at 9:30 p.m. eastern. make sure to tune in for that. you are going to get an earlier on the subject. what do you think? jillian: i think his election is hilarious, but i think you re going to lose people. if you keep going back to the years passed, at this point, some people especially independence, they are trying to figure out who the heck this democratic party s right now. they re trying to figure out who they want to vote for. are they moderate, progressive, super far left? what are they? i think you re going to lose a lot of people you need if you keep going back in time instead of saying, this is what i m about, this
progressive tax system. that s why i ve supported a capital gains tax in my state. i don t know where the right number is, but i would suggest that when dwight eisenhower is president, we had a lot higher emergen marginal tax rate. he was a republican and it was a 90% marginal tax rate. do you support a 70% or higher marginal tax rate on the 10 millionth dollar and above? i support increasing the progressivity of our tax code. what the right number is, i haven t identified a number, but i ve identified a fact. and that is we need to address this massive income inequality. and our tax code that s gone backwards by giving more to the rich under donald trump has got to be reversed. and when we have a democratic nominee, i believe we ll do that. on 2020, as you know, your fellow washingtonion howard schultz is seriously considering an independent bid for the presidency in 2020. how do you feel about that?
to tax the never taxed wealth that exists in our country and is transferred, you are not going to truly remedy the lack of progressivity and not only income, but wealth inequality. a quick question. critics say if you do that this, people will live in other countries. pafb. listen. everything has its limit and we should be sensible. if you live in new york or california right now and you make $5 million, you have a marginal rate of 50%. a lot of the greatest innovation and start ups and productivity is happening. the idea that you couldn t add some additional marginal rate for people over aoc proposed $10 million, what the exact amount is in the marginal rate, you would have to look at the
non-partisan congressional score keeper when it comes to taxation plans and we know two very important things. one is that there s tax relief granted at every income level in the senate plan and two is that it retains the same amount of progressivity as the current code and that s an important component that we saw when it was released several months ago and that was reiterated inneth bo the house and senate plans. again, we hear from the white house that this would be good for the middle class, but when you actually crunch the numbers, you know, why is this tax plan hitting both low income and low to middle income so hard? some of these assessments are a little bit shaded by the fact that especially in the senate you have budget rules that really restrict what you can do with tax policy and restrict what you can do in the ten-year and the current budget window and permanently. the reason why some of these scores don t deliver the tax relief they will in the long term is because of
big and bold again. david david john, i knew there was a problem when back in september the gop said it s going to be at least as progressive as the current tax code. now, that progressivity has caused the economy to stalker it s caused, actually stall, it s caused a widening gap between the richest and poorest, and you wrote a piece many forbes, i love this piece, that the middle class is actually going to pay more if you try to tax the rich more. explain. well, it goes on what gary says so correctly. sr.ly, people, the rich sorry, people, the rich drive economic growth. you get rich in this country by doing something remarkable. you can only do something remarkable insofar as those who already have means back you with investment. this isn t a tax cut, it penalizes the innovators with an even higher rate than 39.6% and also says to those who back them that you re going to pay the