I really don’t get the whole “progressive” tax system. It seems utterly ridiculous. Why on Earth do we have a system the punishes success? I find it highly offensive. From my perspective, if you want to tax the most successful people in our society, you can do it quite easily without our current bullshit. Just do as follows:
Charge a flat tax rate, say 25%. Then, offer a single deduction: either $100,000 or the aggregate value of charitable donations, whichever is higher. Done.
This way, A major of Americans would pay no direct income taxes, but would be subject to exactly the same system of those at the highest income levels. Furthermore, as you advance in success you are taxed evenly through out (as in each dollar beyond $100,000 is taxed $0.25). Rather than the current system where at arbitrary levels every dollar you make is taxed differently resulting in big jumps.