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Overnight Open Thread

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Occasional Reader3/10/2009 8:59:42 am PDT

re: #1141 avanti

That’s why they keep fiddling with the rate, trying to strike a balance.

To the extent we have to have a “progressive” income tax system, IMHO it’s a continuing act of willful stupidity to have these sharp jumps in marginal rates when income passes X or Y dollars. The thing should be a formula yielding a smooth (and gentle) curve, not these ziggurat-link pyramid “jumps” in rates. At no point in the taxable income continuum should you be dis incentivized to earn the next dollar.