By Harold Meyerson
How much do the newly enacted tax hikes on the wealthiest Americans actually affect them? Hardly at all.
Almost all of the debate that convulsed Capitol Hill in December concerned the reinstatement of the highest marginal tax rate on earned income — that is, on wages and salaries. But as Fitzgerald said, the rich are different from you and me, and one of the primary ways they’re different is that they don’t get their income from wages and salaries. Continue reading