The Case for Millionaires' Tax Brackets

Conservatives might think otherwise, but the liberal focus on repealing the upper-income Bush tax cuts has less to do with higher taxes for their own sake, and more to do with revenue—we need it—and basic distributional concerns: The rich have been well-served by the broad economic trends of the last thirty years, taking a huge percentage of all income produced since 1979. Higher taxes are a way of adding more progressivity into the system—funds raised by a large tax burden on the rich are then funneled into more and better public services for ordinary people.

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