Right on Ann, but you didn't go far enough. How about another bracket for those earning over 1 million of 50%. Not only eliminate their deduction for state and local taxes, but also their home mortage deduction. Have a minimum tax on all their dividends and capital gains of the same 50%. I read somewhere that 8 out of 10 of the richest counties in the US voted for BHO. Lets sock it to the Hollywood types, the liberal media personalities and the spoiled sports figures.
Republicans have been forced into a Hobson's choice of either letting the Bush tax cuts expire for everyone or agreeing to a tax hike on the top 2 percent of income earners (not to be confused with "the rich," who have already made, inherited or married their money).
If Republicans object to the Democrats' hitting job creators with a tax hike, three things will happen: Taxes will go up for everyone; Republicans will be seen as the "party of the rich"; and the inevitable economic collapse will be blamed on Republicans.
If Democrats were merely trying to raise...
1) Cut federal spending across the board by 10% per year for the next 8 years.
2) Rollback the Fed's Charter to the Second Bank of the United States
3) Implement an Amendment that removes all ability to tax private property