After I heard about Warren Buffett’s article about taxes, I knew I had to write about it. Of course the weekend got in my way and Jon Stewart beat me to it:

A progressive tax system is supposed to tax those who make more money at a higher rate than those who make less. Considering how it actually works, I would be happy if the rich just paid their fair share. Unfortunately the US tax code was written for the rich by the rich.

So who gets screwed? The middle class. Those who make enough to pay plenty in taxes, but not enough to take advantage of all the countless loopholes. Let’s just plug a few of those (such as capital gains, vacation homes, etc) and see what happens to revenue.