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.

For starters, Ms. Ocasio-Cortez seems to be ignoring the burden of state and local taxes, particularly for residents of places like her hometown. For us New Yorkers, the top rate for those levies is 12.7 percent. And thanks to the 2017 Republican tax cut, it is no longer deductible, bringing her proposed top rate to 82.7 percent.

There are other, better ways to raise revenue — in particular, by increasing the tax rate on capital gains and dividends and closing loopholes.