Comment Re:Common Sense, anyone? (Score 1) 788
I think you missed the key word here: far. Progressive taxation is supposed to prevent a huge income disparity. Consider that the minimal amount you can make (ignoring debt) is $0. From $0-$350K, we have 99% of our earners, who earn up to $235K.
For the remainder, I would venture quite a number aren't sitting at $350K. In fact, it's probably over a million on average considering what CEOs, etc are paid. They can also invest pretty handily and boost their own wealth. This puts them at many multiples of the next tier below. Progressive taxation as it stands today has failed to bridge that divide.