We'll show those evil CEO's we'll cap their income!!! What a moronic move!

I'd like someone to define "fair share". How does that get decided? Who decides it? Should we not pay what the market will bear?

Go to the IRS's website and run the reports for yourself. The top 25% of wage earners pay 91% of the revenue that comes into the treasury.

Taxable income is as follows for 2008 (filing status of a single individual):
> 8,025 Tax Bracket 10%
8,025 --32,550 = 15%
32,550--78,850 = 25%
78,850--164,550 = 28%
164,550 --357,700=33%
< 357,700=35%

So let’s take the argument to the next level. Let’s say we cap every CEO’s income to 500K.

A CEO capped at 500K at 35% would only pay $175,000 to the US Treasury.

A CEO making 5 Million at 35% pays $1,750,000 to the US Treasury.

What do you think would happen to our budget if we capped every CEO to 500K? Oh boy that would really stick it to the rich guy and our government. Our government would then only have two alternatives.

1. Raise Taxes
2. Cut Spending and Programs

Envy is the tool of politicians. It sure sounds nice but when you do the math these noble ideas simply doesn’t add up.