Kudos to our latest political supernova, Alexandria Ocasio-Cortez, for helpfully bringing taxes back into focus, with her call for a new top tax rate of 70 percent on incomes above $10 million a year.

That seemingly simple concept makes for a great headline, but it’s not great tax policy. While I’m all for raising taxes on the wealthy (in large part because we need to deal with our growing deficit), there are more sensible ways to do it.