Ending trickles

Christian Science Monitor:

Warren Buffett paid 17.7 percent of his income in total taxes. His secretary, who made $60,000, paid 30 percent of hers. While making more than $60,000 per hour, the tax rate for America’s top 400 is just 17.2 percent, and they don’t pay that.

How did we end up with this sorry state of affairs?

Lawmakers in Congress have spent the past several decades systematically slicing the tax rates on America’s top income brackets. Their rationale? Lower taxes on the top, free up capital for investment, and boost productivity. In actual economic practice, those lower taxes have served instead to fuel speculation and increase budget deficits.

More than ever, America needs its ultrarich to chip in more.