Reply #66: Not true. You get MORE $ if you reduce the deductions. Read my posts above.

[Honeycombe8]

You are forgetting to reduce the "taxable income" amount by the deductions, and the taxes owed by the allowable credits.

Even if a megawealthy person's tax rate was 90%, it's 90% of almost nothing, if the TAXABLE INCOME is low. TAXABLE INCOME is the adjusted income after deductions, and then there are direct tax credits.

That's the real source of how megawealthy get out of paying taxes. It's not so much the rate. Although the rate matters.

I haven't heard Obama talking numbers. That would surprise me...he's not a numbers person, and he's not an economist or tax specialist.

The tax rate should be higher for the wealthy, but it's the deductions that REALLY matter. (and the credits and subsidies)

I've never heard Obama compare increasing the tax rate substantially (to 90%, say) versus decreasing the deductions and tax credits. I don't think he has.