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View Diary: Steven Rattner offers ideas on raising tax revenue and I respond (72 comments)

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  •  Maybe it's because I earn $260K per year. . . (1+ / 0-)
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    Words In Action

    . . . . but the range in incomes in the highest quintile is huge (as compared to the other quintiles).  I can assure you that making $260K (all income not capital gains) is wonderful and comfortable, but it is a far cry from making $10 million per year.

    In elder days, there were many more tax brackets, and I see the value of increasing the number now.  What's wrong with a graduated table that goes up to 60% or 70% for those at the mega buck level?

    I am more than happy to pay 40% of my (hopefully growing) income above $250K, but why should I pay only that if get to the $1M level?

    the fact that you're right is nothing more than interesting

    by Egg on Sun Nov 25, 2012 at 10:52:12 AM PST

    [ Parent ]

    •  I agree wholeheartedly. The top bracket (0+ / 0-)

      should not be $250K. There is NO relation between people earning $250K and those earning $10M.

      I think others should be (tax rate, AMT rate):

      $250K (38%, 22.5%)
      $500K (40%, 25%)
      $750K (42%, 27.5%)
      $1M (44%, 30%)
      $5M (48%, 33%)
      $20M (52%, 38%)
      $50M (55%, 43%)
      $100M (58%, 46%)
      $250M (60%, 50%)

      The Class, Terror and Climate Wars are indivisible and the short-term outcome will affect the planet for centuries.

      by Words In Action on Mon Nov 26, 2012 at 08:19:53 AM PST

      [ Parent ]

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