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Jim, You said, "...those at the top pay 35% in federal income tax, and 6+% in state income tax. That's 41% of their earnings that they hand over. That seems like a whole lot to me." That's a good point.
Don't forget that they probably also hit the AMT so the 35% is on the first dollar earned (that is, the entire amount with no deductions). That adds to the total tax burden.
Home ownership meant something before the Supreme Court (particularly Justice Souter) ruled in favor of imminent domain and destroyed the concept af ownership.
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