Source: WSJ
Looking Past Fiscal Cliff to Fixing Taxes
By Gerald F. Seib
Let's imagine you just landed from Mars and discovered that America's political system is in gridlock, and its economy is being held hostage. What, you would ask, is the giant problem creating all this trouble?
The big dispute, you would discover, is over whether the top individual marginal tax rate should be 35% (the rate established under George W. Bush) or 39.6% (the rate under Bill Clinton).
That is an oversimplification of the issues that are driving Washington toward the so-called fiscal cliff, of course. Still, that top rate is at the heart of the roaring economic debate.
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Top 1% Share of the Wealth of the US During the same 100 Year Period
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http://jessescrossroadscafe.blogspot.kr/2012/11/us-tax-brackets-spread-for-past-100.html
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