In response to:

Liberals Pine for China's Top-Down Society

Kepha Wrote: Dec 19, 2012 7:56 PM
Ransom's answer to Upwithromney was correct, but neglected another factoid: China's income inequality today is greater than it was in the 1940's.

Kenneth416 wrote: While I will not be affected by the increase in the marginal rate of taxation of salaries and wages from the current 35% to 39.6% (as under the Clinton-era), I doubt that it will have a serious effect on the behavior of the highest earners. Note that, for a high earner who earns $1M, the additional income tax will be only $46,000, less than the cost of the luxury Mercedes or Lexus he or she drives (and which is probably provided by his/her employer, anyway). The real bite comes in the tax on Dividends and Cap Gains, where the...