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

Rep. Alexandria Ocasio-CortezAlexandria Ocasio-CortezKids confront Feinstein over Green New Deal Can progressives govern? Overnight Energy: Natural gas export project gets green light | Ocasio-Cortez says climate fight needs to address farming | Top EPA enforcement official to testify 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 Ann WarrenSanders endorses Oakland teachers strike On The Money: Dems set Tuesday vote on Trump's emergency declaration | Most Republicans expected to back Trump | Senate plots to avoid fall shutdown drama | Powell heading before Congress News media has sought to 'delegitimize' Tulsi Gabbard, says liberal journalist 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.