Quote Originally Posted by Lukie View Post
what are people paying above 1 million now? 35% federal income tax + payroll taxes (capped) + state + local? Isn't that close to 50% already for someone making $1m/year? Heck pre-Bush tax cuts it is probably right around that 60%.

I don't think the current sytem is as bad as you make it out to be. Perhaps closing some particularly egregious tax loopholes would be a good start.
edit: I am not an economist and am not claiming to know what an ideal top tax rate is
I wonder what would happen to the tax take if nobody tried to evade any tax? or if everyone involved in tax evasion (the people paying less tax AND the lawyers and accountants who signed in on it) was busted and charged - jail is probably more of a deterrent (1/2 of the deterrent/punishment thing) to these people than to your average neighbourhood crack dealer...