Taxing the rich - what is the cutoff?

[saden1]

It's really difficult to throw out a hard number/range without serious research and analysis. It's complex...you have to take locale and inflation into consideration. The number certainly can't be a hard figure because we'll eventually run into AMT tax like issues. One thing is for sure though, the well off won't be starving and will certainly be benefiting from all that this country has to offer.

Finally I'd like to add that our tax system is a progressive tax system which means the tax brackets can be adjusted. The question then becomes "what's a reasonable tax bracket structure?" If you don't like the progressive tax system, that's entirely a different matter.

[Slingin Sammy 33]

Originally Posted by saden1

Finally I'd like to add that our tax system is a progressive tax system which means the tax brackets can be adjusted. The question then becomes "what's a reasonable tax bracket structure?" If you don't like the progressive tax system, that's entirely a different matter.

The income tax is progressive. However most folks in the U.S. pay more in the regressive payroll tax.