Originally Posted by A Salt Weapon
My favorite one to ask liberals is how much tax they think is fair for people. On and on they whine about the rich not paying their fair share, tax cuts to billionairs, etc etc etc, however when asked how much the rich should pay in their ideal world, they have no answer and dodge the question.
I can take a stab at it. I would advocate a tax structure similar to the one under Clinton. However, I would raise the floor on the top tax bracket. The idea that someone making $250,000 should be in the same marginal bracket as someone making $10 million a year doesn't make sense to me. It wouldn't be a huge difference in tax rates, maybe a top rate of 35% for those making between 250k and $2 million, then bump it to 38% for anything above $2 million. I am just spitballing, but that, in my mind, would be more "fair".
I would also couple those tax changes with sensible spending decreases, and you get the budget balance under control. You get a surplus going in the country (yes I know, a pipedream), then you can ratchet back the tax rates a little bit.