Fox Business Host Blames American Support of Tax on Ultra-Wealthy on Schools That 'Promote Fairness'

A recent Fox News poll found that 70 percent of Americans support increasing taxes on incomes over $10 million and 65 percent of Americans support increasing taxes on incomes over $1 million. The survey's results prompted Fox Business host Charles Payne to blame American schools for teaching children to be fair.

"The idea of fairness has been promoted in our schools for a long time and we're starting to see kids who grew up with this notion of fairness above all," he said. "Now they're becoming voting age and they're bringing this ideology with them."

Fox News host Sandra Smith also commented that the results showed that there "seemed to be a movement against capitalism in this country." America, of course, was still a capitalist country when the marginal tax rate for top income brackets was 91 percent, between 1953 and 1961.

Payne's "young people" argument falls apart when you look at the breakdown of the Fox News poll, 65 percent of Americans over the age of 45 favor increasing taxes on those earning more than $10 million per year, and 62 percent of Americans over the age of 45 favor raising taxes on people earning more than $1 million per year.

Alexandria Ocasio-Cortez, who proposed taxing incomes of over $10 million by a marginal rate of 70 percent, responded to the Fox News clip on Twitter Tuesday. "Just wait until they find out about the Golden Rule," she wrote.

Senator and Democratic presidential contender Elizabeth Warren has also proposed a two-percent tax rate on households worth at least $50 million. A new Morning Consult Poll found 61 percent of American voters were in support of the plan. The poll also found that 63 percent of Americans believe that the rich are paying too little in taxes.

President Donald Trump and Congressional Republicans passed a tax plan in 2017 that lowered the top marginal tax rate from 39.6 percent to 37 percent. Just 39 percent of American supported the plan, according to Gallup.

French economist Thomas Piketty, who recommended a plan similar to Warren's, found nearly 60 percent of American wealth is inherited, not earned as income. Early analysis shows that Warren's plan would raise at least four times more in revenue than Ocasio-Cortez's plan.

Warren's plan came about because "inequality has been increasing so much, particularly in wealth, and the feeling our current tax system doesn't do a very good job taxing the very richest people," Emmanuel Saez, Warren's economic adviser, wrote in a Washington Post op-ed.

Fox Business Host Blames American Support of Tax on Ultra-Wealthy on Schools That 'Promote Fairness' | U.S.