Aren't taxes just too high?

[andyfox]

We've been over this ground quite a bit before, so just this:

Highest marginal tax rate in 2005 is 35%, not 38%. And you have to make $326,450 to pay that. And you pay it on only that portion of your income that exceeds $326,450.

So, for example, if you make $350,000, 35% would be $122,500. But you don't pay $122,500. If you're married and filing jointly, you pay $102,240, which works out to 29.2%.

That still might be too high (or too low) depending on your politics, but this just points out that when you're in the 35% bracket, that doesn't mean you pay 35% federal income tax on all your income.