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Ocasio-Cortez slams Howard Schultz over marginal tax rate: 'No plan'

Rep. Alexandria Ocasio-CortezAlexandria Ocasio-CortezTrump tweets Thanksgiving criticism of NFL QBs for kneeling Kamala Harris, Stacey Abrams among nominees for Time magazine's 2020 Person of the Year Ocasio-Cortez, Cruz trade jabs over COVID-19 relief: People 'going hungry as you tweet from' vacation MORE (D-N.Y.) knocked former Starbucks CEO Howard Schultz on Wednesday over marginal tax rates, saying that the potential independent presidential candidate has "no plan."

"Reminder that their plan = no plan," the New York lawmaker tweeted. "Why? Because for billionaires, things are already going fine."

Ocasio-Cortez was responding to a tweet from former Michigan Gov. Jennifer Granholm (D) criticizing Schultz for saying Ocasio-Cortez's plan was bad while not saying what marginal tax rate would be fair.

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The freshman lawmaker has floated creating a top marginal tax rate of 70 percent on income above $10 million.

Schultz, who is mulling a White House bid as an independent candidate, has been critical of plans to raise taxes on the wealthy.

He has called a plan from Sen. Elizabeth WarrenElizabeth WarrenThe Memo: Biden faces tough road on pledge to heal nation Disney laying off 32,000 workers as coronavirus batters theme parks Kamala Harris, Stacey Abrams among nominees for Time magazine's 2020 Person of the Year MORE (D-Mass.) "ridiculous" and designed only to get media attention.

Warren, who formally declared her presidential bid last weekend, has proposed an annual tax of 2 percent on a household's wealth above $50 million and a 3 percent tax on household net worth that exceeds $1 billion.

Schultz said during a CNN town hall on Tuesday night that he believes he should pay more in taxes, but did not specify how much.

“The headline is here,” Schultz said. “I should be paying more taxes. And people who make this kind of revenue, and are of means, should pay more taxes.”

Asked what the tax rate should be for those making more than $10 million, Schultz said, "I don't know what the number is."

Schultz called a 70 percent marginal tax rate punitive. 

Since announcing that he is considering a run last month, Schultz has come under intense criticism from Democrats, who believe his candidacy could divide the anti-Trump vote and help the president win reelection in 2020.

According to recent CNN polling, Schultz has a negative 9 percent favorability rating.