The Mother Of All Tax Hikes

[barcop]

http://republicans.waysandmeans.house.gov/News/PRArticle.aspx?NewsID=133

Wow. Talk about crashing the economy.

[Zarxrax]

Well, I honestly don't know how much truth there is to a 4% tax hike on wealthy Americans being the "largest tax hike in history".

I'm completely opposed to the federal income tax, but given the requirement that we do have to pay taxes, I think the wealthy definitely don't end up paying their fair share. Sure, everyone throws around the 34% and 35% tax bracket values and try to get people upset at how much tax the rich unfairly have to pay, but honestly, they aren't paying anywhere near that amount.

Our tax code is so incredibly huge and out of control that it's simply incorrect to say that the rich are paying 35% tax rates. If our entire tax code was defined on a single page of paper and showed the rates you pay, then sure you could say that. But with thousands of pages of law telling you how much you have to pay, or more importantly, what you DONT have to pay, then trying to say that the rich clearly pay too much, based on a single aspect of that code, is simply naive.