Correct me if I an wrong.
The top 1% of Americans earn about $700 billion and pay about $200 billion in federal taxes so their effective tax rate is 28%.
48% of Americans pay zero federal income tax. Those who do pay have an effective tax rate of over 30%.
So if the rich paid the same as everyone else, an extra $14 billion would be raised.
The US deficit is over $1 trillion per year. So fixing the tax system would eliminate 0.14% of the deficit.
While its obviously unfair that the top 1% are able to avoid 2% of their taxes, it seems like a distraction. Its low taxes on the middle classes and high expenditure on social security and the military that is causing the problem. But if any major politician says that this side of the 2012 election, I'll eat my shorts.
Your numbers are all wrong.
The majority of the "rich" are paying MUCH
less than their designated top tier rate, because of all the deductions and loop holes.
And the reason why 48% of American's don't pay taxes, is because they barley make enough to SURVIVE
, let alone pay taxes from an under-paid and over-worked corporate slave-check.
Warren Buffet pays less than his secretary http://www.post-gazette.com/pg/11317/1189189-455.stm