Here's The Moral Basis For Progressive Taxation

[eniwetok]

3. 50% at $100k????

I think that's WAY too extreme. The big problem the US has is excessive inequality at the top... and how the ultra rich have benefited by the irresponsible tax cuts over the past 35 years which is a big cause of the debt. So perhaps 50% starting at $10 million and I'd like to end the capital gains tax break except in cases where risky investments can benefit us all... such as medical and energy research... and if someone sells their home. And why should capital gains be exempt from FICA? There should be no tax breaks for speculation on Wall St or commodities...

CBO estimates that more than 90 percent of the benefits of reduced tax rates on capital gains and dividends will accrue to
households in the highest income quintile in 2013, with almost 70 percent going to households in the top percentile.

http://www.cbo.gov/sites/default/files/43768_DistributionTaxExpenditures.pdf