I was thinking it was 35 today and it might have been 39 prior to that under Bill Clinton. Agreed -- no one is leaving.
So, how much do you think you should pay? And how much should the rich pay? And who are the rich? We used to live next to two HS teachers each making $75k (masters degrees) for a family income of $150k. In NYC, (a cliche to follow) a teacher and a fireman couple would be pulling down at least $125k. Do they need to pay more?
And who gets to decide all of these numbers?
Originally Posted by matclone  I agree, the table is buried somewhere. They could improve their site, methinks.
I like the progressive principle. I think, overall, our tax code could and should be more progressive than it is now. However, there are limits. Back in the 60s, the Brits had an 80 or 90% tax rate for the very wealthy which caused some of them to leave the country. We don't have anything like that. I think our top marginal tax rate is 38% (but don't quote me on that), and I don't know of many leaving the country to avoid taxes--another indicator that the current system does not unfairly tax the rich. |