Photo: Melina Mara/The Washington Post via Getty Images

Rep. Alexandria Ocasio-Cortez (D-N.Y.) said in a 60 Minutes interview scheduled to air Sunday that it may be necessary to impose tax rates as high as 70% on the wealthiest Americans in order to fund the climate change policies proposed in the Green New Deal.

The big picture: Ocasio-Cortez admitted this is an "ambitious" goal, and her spokesperson, Corbin Trent, told Axios she was referring to "more of a general, progressive taxation policy" than any concrete tax proposal. Progressive wealth taxes are likely dead-on-arrival in the Senate, where Republicans control the agenda.

Between the lines: The backers of the Green New Deal generally support the idea that taxation instruments alone cannot fund all the goals of the deal. Ocasio-Cortez herself said she thinks raising taxes are just one "element" of funding climate change policies.

Go deeper: Democrats debate how to face "the existential threat of our time"

Go deeper

The TikTok deal's for-show provisions and flimsy foundations

Illustration: Aïda Amer/Axios

The new deal to rescue TikTok from a threatened U.S. ban — full of provisions aimed at creating the temporary appearance of a presidential win — looks like a sort of Potemkin village agreement.

How it works: Potemkin villages were fake-storefront towns stood up to impress a visiting czar and dignitaries. When the visitors left, the stage set got struck.

  • Similarly, many elements of this plan look hastily erected and easily abandoned once the spotlight moves on.
57 mins ago - Technology

Over 3 million U.S. voters have already registered on social media

Illustration: Eniola Odetunde/Axios

An estimated 2.5 million+ Americans have registered to vote on Facebook, Instagram, and Messenger, Facebook announced Monday. More than 733,000 Americans have registered to vote so far via Snapchat.

Why it matters: The broad reach of social media platforms makes them uniquely effective at engaging voters — especially younger voters who may not know how to register to vote or be civically engaged.

Felix Salmon, author of Capital
1 hour ago - Economy & Business

Wall Street: Recession is over

Illustration: Aïda Amer/Axios

U.S. economic activity fell more sharply in the second quarter of this year than during any other quarter in history. It's also going to grow more sharply in the third quarter of this year than during any other quarter in history.

  • The recession is over, according to Wall Street, with current forecasts showing sustained economic growth through 2021 and beyond.