Reply #3: The "payroll tax" is FICA -- doesn't apply to investment income and capital gains [View All]

[PSPS]

The billionaires still get a free ride on their dividend checks. If there were any fairness left, we'd go back to a graduated income tax with a top marginal rate of at least 70% like it was until Saint Reagan slashed it by 2/3.

(Marginal tax = the tax on the last dollar earned, NOT the tax on the entire amount. Example: If the top marginal rate is 70% on amounts over, say, $2 million, only that amount over $2 million is taxed at 70%. The $2 million itself is taxed at a lower rate. And who needs more than $2 million a year?)