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View Diary: Conservative Exceptionalism (184 comments)

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  •  Marginal, not average, tax rate (6+ / 0-)

    Nobody ever proposed a 50% rate on all taxable income. However, it is perfectly reasonable to propose a 50% rate on all income over some threshold.

    The rate is applied to taxable income, so there is still the problem of all the loopholes in the tax code.

    All the whining about changing the highest marginal rate from 35% to 40% makes sense only if you are seriously convinced that ANY tax increase, no matter how small, is an outrage.

    We can safely abandon the doctrine of the eighties, namely that the rich were not working because they had too little money, the poor because they had too much. JK Galbraith, 1991

    by Urban Owl on Sun Nov 11, 2012 at 06:17:07 AM PST

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