Hey Murph!The effective tax rate is the only way to look at the tax issue......it compares apples to apples.But as to taxes going forward, the effective tax rate goes up regardless of what Congress does......Obamacare raises taxes on payroll and union health plans, etc.So taxes on middle class are going up no matter.Despite all this, this whole class warfare chanting to tax the rich, just makes little logical sense......pure emotional sense ........getting one's pound of flesh. But I have still not heard any cogent argument why generating additional $75 billion annually will substantively reduce a deficit that is $1.2 trillion annually.Worse yet......how does nailing the rich with higher taxes get us more jobs???As an aside, the totally arbitrary 40% tax rate for folks making $251,0000 per year doesn't seem very progressive compared to the same rate for someone making $2.5 million per year. "Rich" is more likely the latter than the former.
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