January 08, 2019
Freshman US Congresswoman Alexandria Ocasio-Cortez made waves in recent days with her suggestion that the US raise its top marginal tax rate to 70 percent for income over $10 million dollars.
To clarify, this does not mean taking 70 percent of everyone's income. It means the government would take 70 percent of any income above $10 million dollars. Currently the top tax rate in the US is 37 percent, but just a few decades ago it was nearly twice that level. Here's how top tax rates have evolved since 1970 in some of the world's largest economies.
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In this Quick Take, Ian Bremmer breaks down the escalating US-Israel war with Iran and its ripple effects on global markets and supply chains.
As missiles fly and oil prices soar, the Iran war is exposing another major resource vulnerability in the Middle East: water. Fresh water has been a scarce commodity in a region defined by a dry climate and low rainfall, but attacks on the region’s desalination plants, which convert seawater into drinking water, threaten to open a new front.
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