Let's say we combine income and capital gains...

[Warren Stupidity]

7. well no, the government would only take half of

your income above some threshold. That would never be half your income, although if you made millions in your good year, and the threshold was low enough, it might as well be half your income. But then again if you make 10,000,000, a tax of 5,000,000 is not unreasonable.

Once upon a time, until shortly after that asshole Reagan was elected, the tax code adjusted for people with an exceptionally good year by letting you do "income averaging". That was back when the tax code was actually pretty fair for working middle-class families. Now thanks to rightwing world, we are all paying at the same rate as Warren Buffet, only he gets to exempt piles of loot from income taxes entirely, paying at the much lower capital gains rate instead.