Tax... The... Fucking... Rich.... We've Had OUR Turn With Austerity...

[gtar100]

60. That 90 percent figure is on income over a certain amount, not on all their income.

I suppose you already know this (and please forgive my rant if you do) but just to point it out, everyone is "supposed" to pay the same tax rate on every dollar earned. As one earns more the rate increases on the additional dollars earned only, not on any of the previous dollars. This is how a progressive tax system puts the breaks on the accumulation of excessive wealth. It doesn't penalize anyone because those who earn more still have more. But it decreases the incentive to just accumulate wealth without recirculating the money. So rather than holding onto earned income, being able to spend it on tax deductible items (such as research and development, new equipment, better working or living conditions, etc.) becomes a much more attractive alternative than paying the higher taxes.

Republicans have tax theory all wrong and are talking out of their asses when they discuss these things. Their only motivation is to accumulate as much wealth as they can without regard to the consequences on the whole economic environment. They may like the fact that the rich are getting richer but over all, the world is crumbling around them because of their avarice and greed. They're idiots.