[GenuineRisk]

This is a kick-ass thread, guys; I'd nominate it for one of the best OT threads ever (how is that possible when I barely contributed to it? Tee hee).

But I want to clarify something about the progressive income tax that a lot of people seem to be getting wrong. People are all taxed equally- what is taxed unequally is the money. Bill Gates doesn't pay any more tax on the first $20,000 of his income than does the McDonalds worker down the street. As one's income goes up, the percentage of the additional income subject to taxation is what increases.

So, to use Rupert's example of a man selling a machine for $100 million-- under a progressive tax system that would cap out at 95% tax after, say, $90 million, only the last $10 million would be subject to a 95% tax rate. Not the full $100 million.

(And in our system, of course, people deduct the cost of creating something as business expenses, further reducing the amount of money eligible for taxation. I doubt that $100 million dollar machine was created for $4.99)

Just wanted to clear that up- it's an easy misconception to have about progressive tax systems.

By the way, Timm, I have several friends who are getting by on $25,000 or less. Not easily, and God help them if they get sick, as they can't afford health care in our messed-up health system, but they're struggling by.