Comment Re:Betteridge's Law of Headlines Broken (Score 1) 27
There aren't enough super wealthy to provide sufficient revenue. We went through this exercise a while back. Take a corporation. Lockheed was the example IIRC. Take all of the executives compensation. Every penny, not just some tax rate. Spread it it across all of its employees like peanut butter. It will make a nice Christmas bonus. Nothing you'd manage to live on. Your kids might get nice iPhones under the tree (but not the top of the line models).
You HAVE to tax the middle class. Because that's where the money is. Once this is encoded into tax policy and enforcement, the rich have an interesting tactic: Given that there just isn't enough money in that slice of the economy, chasing after it isn't worthwhile. On the other hand, enforcement targeted at the middle classes will pay off.