When we make the argument that back in the teabaggers' halcyon "Leave it to Beaver" dream decade of the 1950s the top income tax bracket was more than 90%, it bears remembering that even then we still had marginal tax rates, so the super rich only paid 90% only on income over $400,000 per year. And remember that's in 1950s dollars! That said, how do you think we built all those roads and universities? Hoover Dam, anyone?
We're not suggesting that someone who makes $1,000,000 a year pay $900,000 in taxes. But there's no reason someone who makes $100,000,000 a year shouldn't couldn't pay a 90% tax on the last $5,000,000 or so. I'm open to debate about the cut off! But $5,000,000 x .90 = $4,500,000. That kind of money will help send a lot of kids to college.
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