Take a good look at this Fox News Channel chart showing what will happen to the top marginal tax rate if the Bush tax cuts expire at the end of the year.
Holy shit! The top bracket will explode!
Actually no. Check out the numbers on the right side of the graph. The margin is only four points but up-close the margin looks gigantic. To correct the record, Media Matters created a more realistic graph showing a zero-39.6 percent spread.
While I’m here I’d like to repeat: if any rich person really pays 39.6% as their effective tax rate, they should fire their dingus accountant for gross incompetence.