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No marginal income tax increase, no matter how extreme, would “tax the rich into the middle class”. Marginal tax rates apply only to the last dollar. So even if the U.S. instituted an Eisenhower-era 91-percent income tax on income over $1 million, those earning over that amount would only pay that rate on income after the first million earned. If you want to argue that tax rates on the super-wealthy are already high enough, fine. But don’t argue that Buffett’s proposal, or a restoration of Clinton-era tax rates, amounts to “soaking the rich” or “screwing the rich” or “taxing the rich into the middle class”. It’s sophistry.

It’s easy to understand why the rich tech elite support Democrats on economic issues. They’re smart enough to wish we could return to an economy like we had under Bill Clinton.

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Daring Fireball Linked List: Mike Arrington’s Taxes Are Too High