Giving the Rich A Soothing Foot Bath

Chuck Asay, 4/30/11:

Today's US income tax code, as everyone knows, is severely, and ahistorically, punitive towards the wealthy, sacking them with a massive 15% flat rate on all of their investment income and taxing some earned income as high at 35%!

It's a mystery why, even under punishing rates that can sometimes claim almost 30% of the total income of single people making over half a million a year, the share of total US wealth and income held by the richest Americans has heroically increased over the last generation.