catsittingstill

Yup, right now they use various legal techniques to get around paying the 35% rate by converting income to the 15% capital gains rate. That is why you hear about a corporate boss paying taxes at a lower rate than his secretary. At 90% for regular income the capital gains rate was about 45%. That is what I figure the wealthy would really pay at most. There is a limit on the amount of expenses that can be deducted from taxes and I expect that corporate America, even now, does its best to push that limit.