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Bill gates, lefty, microsoft, revolutionized computers. andrew carnegie, made the production of steel possible that we use today. jeff bezos, i'm no fan of this guy, but change completely how we buy. andrew mellon, financed the electricity in every home. i can go on and on. multibillionaire's, what has alexandria ocasio-cortez created? any job, part-time job? how about bernie sanders, what has he created? where's all of this money going to go? 70% tax bracket, who will decide who gets what? the department of agriculture? the department of energy? the epa? they waste $125 billion a year accordi...

>> sure, but when we talk about a higher corporate tax rate, that's higher than a higher personal tax rate on wealthy people. neil: right. >> the end of the day when you have-- we're talking about, this committee is also about the deregulation and really coming in on the deregulation and having more regulation coming in there. they don't like the fact that president trump went in there and tried to deregulate all of these antiquated tax codes. so, that was another point that ocasio-cortez was trying to make to go back to regulation. that doesn't make sense. when we have deregulation, the econo...

Fund things like green infrastructure and medicare for all. let's look at how taxes run right now. the current highest tax bracket at a federal 11 is 37% on all become above $500,000 a year, down from 39.6% on income that was made because of the republican tax law that trump signed in late 2017. the united states has a progressive federal income tax system where americans are taxed at higher rates with rising income brackets. a progressive system spreads the burden more equitiably between the rich and the poor. here's how it works practically speaking. you pay a 10% rate on the first $9,525 of...

Share in taxes than everyone else does. she says all individual income above $10 million a year should be taxed at a 70% tax rate. that way the extra revenue generated could be used to fund things like green infrastructure and medicare for all. now, the current highest tax bracket on the books for individuals is 37%. that's on all income above $500,000 a year. this is down from a previous high of 39.6% on income of more than $418,000 a year, thanks to the republican tax law that president trump signed in late 2017. now, you see, the united states has what's called a progressive federal income ...

College tuition or universal pre-k. many republican opponents and even some democrats would have you believe that ocasio-cortez's plan calls for a 70% tax rate on all income generated by wealthy americans. that would be disingenuous. others would have you believe a 70% top tax bracket is unheard of, except the richest americans did pay top tax rates of 70% or even 90% on incomes over a certain amount as recently as the 1970s. the question should really be, how progressive do we want our tax system to be? joining me now is cnbc's editor at large john harwood. john, i would love your take on thi...