Even if you were to double the taxes the rich pay, the reduction in the deficit would be relatively trivial. If the top marginal tax rate was increased from 35% to 45%, there would only be about 35$ billion more dollars raised. This is probably less then 3% of the 2010 federal budget deficit.
Even if you were to double the taxes the rich pay, the reduction in the deficit would be relatively trivial. If the top marginal tax rate was increased from 35% to 45%, there would only be about 35$ billion more dollars raised. This is probably less then 3% of the 2010 federal budget deficit.