[mathiasben]

needs to have a fourth bracket where income over $10mil/yr is taxed at 91% with exemptions available for investing in R&D or providing seed capital that results in job creation. Why is this been described as the biggest overhaul in decades when it's clearly a mild reorganization of the rates and deductions?

[abhi3]

This is no mild reorganization but a reorganization to the tune of trillions of dollars. And while I am all for redistribution of wealth, taxing rich people at 91% (or anything over the average rate in developed countries) is a great way to get people to leave for good and lose out on even the 39.5%.

[fishcolorbrick]

I think your idea just creates capital flight and wouldn't work in practice... which is too bad because I wish it would work.

How lovely it'd be if we could say "make your capital productive or surrender it to someone who will".