Subject: Re: 50 million to 1
The act increased the top federal income tax rate from 31% to 39.6%

This is true, from personal experience. I absolutely loved giving 40% (marginal) to Feds and 11+% to California, not to mention SS and Medicare and CA SDI and sales taxes and gas taxes and property taxes and dividend taxes. Loved it. Absolutely. Can't wait for Democrats to feel entitled to even more of my money.