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Reply to "Is 39% tax rate for wealthy really fair?"
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[quote=Anonymous][quote=Anonymous]I am a democrat, but I'm not sure I understand the justification of the wealthy paying such a high tax rate. Can someone explain this to me? We are middle class and pay about 12%. It seems like 39% is quite high, even for the wealthy. This seems like more than their fair share. What am I missing? [/quote] You are missing that it's a marginal tax bracket. Meaning they are only paying 39% for the money they make above $450K filing jointly. So they pay the same as you on the first 17K, then 72K etc. on up to 450K. Personally I have no problem asking people to pay 40% tax on the money they earn AFTER the first 450K.... I think they will manage just fine. [/quote]
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