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For me at least, what this says is that what counts is NOT what the top rate is, but rather, how much of one's income is actually paid in taxes, after deductions, AMT, ad nauseum. ;-)

Cheers!
Murph
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Hi Murph with your warm welcome I dont want to call you a slow learner. Unless you make over $1 million per year you would not be effected by a tax hike what what should be the top tax bracket. In fact taxes would come down over time for you if the top bracket was higher.

The effective rate on the wealthy, upper middle class and middle class from what I have seen is 20% on average for each class. When the deductions, loopholes and capital gains are all counted up and figured for each group that is what we get, a 20% average.

We need a much more progressive scheme to create demand in the economy. This would then create more consumers and savers for the wealthy. After all money floats up hill only.

The biggest point is that unless we up the rate on the wealthy now they will pay much more later......we need to get on with raising their taxes.....and lowering our's.....

Dave
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