Today's clarion call from the Republican Party is "redistribution." At the root of this charge is that President Obama is suggesting that the marginal tax rate on Adjusted Gross Income above $250,000 be increased from its current value of 35% to 39.6%, the value is was under President Clinton when the budget was last balanced.
So if I am fortunate enough to attain a AGI of $250,001, on that last dollar I pay 39.6 cents in tax rather than 35 cents. Rest assured fellow Kossacks, I'll never notice this if it happens and I be happy to pay it if I did.
I made a graph of the incremental tax burdens which would accrue to people making between $250,000 and $1,000,000 dollar to illustrate that this change in tax policy is not very significant. A data table showing the impact is below the fold
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