Puncturing the Tax Cut Myth

Paul Krugman, once again, points out that low taxes on the rich don't help the economy. Three quarters of the nation's capital gains income goes to the top 1 percent and that income is taxed at 15%. Back in the days when the source of income didn't affect the rate (before W), the economy did just fine. Those who want "fair" taxation should start here.

For completeness, here's the smoke and mirrors response.  Because of the high corporate rate, the contention is that rich people's money get taxed twice.  But corporate profit isn't personal income except when viewed from Wall Street.