President Donald Trump called out the 'sad situation' amid the political upheaval in Venezuela Thursday – then went after the tax idea of first-term Democrat Alexandira Ocasio-Cortez.

He referenced the New York Democrat's comments that she would support a top tax rate of 60 or 70 per cent on the income of people who earned $10 million a year. GOP opponents have teed off on the comments after the Democratic socialist with 2 million Twitter followers made them on CBS '60 minutes.'

'We're looking at Venezuela. It's very sad situation,' Trump said.

'That was the richest state in all of that area. It's a big, beautiful area and by far the richest. And now it's one of the poorest places in the world,' he noted, mentioning Venezuela's vast oil resources.

President Donald Trump commented on the 'sad situation' in Venezuela and then went after a potential top tax rate of 70 per cent floated by new Rep. Alexandria Ocasio-Cortez

'You know it's interesting, I've been watching our opponents, our future opponents, talking about 70%. Number one, they can't do it for 70%, got to be probably twice that number, but maybe more importantly, what happens is you really have to study, you take a look at what's happened to Venezuela, it is a very, very sad situation.'

'That's what socialism gets you – and they want to raise your taxes to 70 per cent,' he added, pivoting to domestic politics.

'You know it's interesting. I've been watching our opponents – our future opponents – talking about 70 per cent,' he said. 'Number One, they can't do it for 70 per cent. It's got to probably be twice that number,' he added. That would mean a tax rate of 140 per cent.

Rep. Alexandria Ocasio-Cortez, D-N.Y., third from right, speaks to reporters as she walks out of the Senate Chamber following two failed votes on ending the partial government shutdown on Capitol Hill in Washington, Thursday, Jan. 24, 2019

'More broadly what happens is you really have to study and take a look at what has happened to Venezuela. Is a very sad situation,' Trump added.

As Ocasio-Cortez described her plan to CBS: 'You look at our tax rates back in the '60s and when you have a progressive tax rate system your tax rate, you know, let's say, from zero to $75,000 may be ten percent or 15 per cent,' she said.

'But once you get to, like, the tippy tops – on your 10 millionth dollar – sometimes you see tax rates as high as 60 or 70 percent,' she said. 'That doesn't mean all $10 million are taxed at an extremely high rate, but it means that as you climb up this ladder you should be contributing more.'

Anti-government protesters hold their hands up during the symbolic swearing-in of Juan Guaido, head of the opposition-run congress who declared himself interim president of Venezuela until elections can be called, during a rally demanding President Nicolas Maduro's resignation in the capital of Caracas on Wednesday

Violence flared in Venezuela after Juan Guaido, (right) leader of the opposition-controlled National Assembly, announced himself 'interim president' - to the outrage of current President Nicolas Maduro (left)

Venezuelans headed into uncharted political waters in the early hours on Thursday, with the young leader of a newly united and combative opposition claiming to hold the presidency and socialist President Nicolas Maduro digging in for a fight with the Trump administration.

Amid huge protests in Venezuela, Trump promised to use the 'full weight' of U.S. economic and diplomatic power to push for the restoration of Venezuela's democracy. 'The people of Venezuela have courageously spoken out against Maduro and his regime and demanded freedom and the rule of law,' he said in a statement.

Trump said told reporters that he had not considered sending U.S. forces in to help stabilize the country, but 'all options' remain on the table, including military troops.

Violence flared again Wednesday during big anti-government demonstrations across Venezuela, and at least seven protesters were reported killed in the escalating confrontation with Maduro, who has been increasingly accused of undemocratic behavior by the United States and many other nations in the region.

Juan Guaido, the new leader of the opposition-controlled National Assembly, turned up the heat by declaring himself interim president before a mass of demonstrators in Caracas. He said it is the only way to end the Maduro 'dictatorship' in Venezuela, which has seen millions flee in recent years to escape sky-high inflation and food shortages.

'We know that this will have consequences,' Guaido shouted to the cheering crowd, then slipped away to an unknown location amid speculation that he would soon be arrested.