A few relevant charts:
So, a guy making over 10 million generally pays a lower effective rate than a guy making $750,000, due to capital gains. (which historically has generally been somewhere between 20% and 28% until GWB was elected)
(That is the top marginal income tax rate)
I'm not suggesting that we hike the top rate back over 50% like it was before Reagan, but the 1950's and 60's didn't seem that terrible.
Listening to the right fringe, you'd think that if the top tax rate goes up just ~3% back to where it was during Clinton, we'd have a global meltdown and unemployment over 25%. There's obviously other things going on with jobs than just the top marginal rate.