Billionaire former Starbucks CEO Howard Schultz told CNBC that he can’t run for president as a Democrat because he doesn’t like Rep. Alexandria Ocasio-Cortez’s (D-NY) proposal to slap a 70-percent marginal tax rate on income above $10 million.
Said Schultz: “I respect the Democratic Party. I no longer feel affiliated because I don’t know their views represent the majority of Americans. I don’t think we want a 70 percent income tax in America.”
He added: “If I ran as a Democrat, I would have to say things that I know in my heart I do not believe, and I would have to be disingenuous.”
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