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Just to be clear: with a marginal tax rate, if your income is $10,000,001, you pay $0.70 tax for the $1, and the rest of the $10,000,000 is taxed according to the lower tax brackets.
The first $50,000 of that $10 million is taxed just like the guy that only made $50,000.
The US tax system is slightly more complicated than this, but there's no situation where you can get stuck with a huge additional bill because you edged slightly into the next higher tax bracket.
Yeah, getting screwed by income brackets only happens when you're poor and on assistance.
... Which is probably a big part of why they think it works that way for taxes, come to think of it.
And a tax on loans based on assets
70% is an acceptable start.
For billionaires I want 100% and their heads (nonnegotiable)
