Saturday, September 14, 2013 3:47:28 AM
@ Bacon ~ The point you seem to miss is that you only pay taxes on the money that is just sitting around doing nothing. Money that is invested [i.e., working to create a healthy economy] is NOT taxed.
The point of having high tax rates is to force the wealthy to put their money into circulation where it actually works at creating a healthy economy. Money stored in bank vaults does nothing.
The United States saw it greatest economic growth when the upper tax brackets were in the 70% to 90% range forcing the wealthy to invest and create new businesses and jobs to avoid paying those rates.