New York City Mayor Bill de Blasio was the first of the 2020 Democratic presidential candidates to announce a willingness to support a 70% tax rate on the wealthy.
Just moments into the first Democratic debate Wednesday, de Blasio planted his flag on higher tax rates for the wealthy — up to 70%, if necessary. (RELATED: ‘Worst Mayor Ever’: Protesters Drown Out Bill De Blasio At His Own Climate Change Event)
Arguing that everyone onstage was there to be a part of the fight “for the heart and soul of our party,” de Blasio cited the “working people” and said that Democrats should be willing to own a dramatically progressive tax rate in order to even things out.
“I want to make it clear,” de Blasio began. “This is supposed to be the party of working people. Yes, we’re supposed to be for a 70% tax rate on the wealthy. Yes, we’re supposed to be for free college, free public college for our young people. We are supposed to break up big corporations when they’re not serving our democracy.”
“This Democratic Party has to be strong and bold and progressive,” he continued. “In New York we have proven that we can do something very different and put money back in the hands of working people.”
De Blasio then argued, as he has in the past, that there is plenty of money to take care of everyone in the United States, the problem is that “a lot of it is in the wrong hands.”