47% and all that

This excellent graphic from the NYT pretty much tells you what you need to know about how much people pay in taxes by income class. All things considered, we have a flat tax beyond $50,000, and not very progressive below that.

Meanwhile, Mr. Obama takes the high road, but still manages to twist the knife subtly, with his signature style. As TNC puts it: "Barack Obama -- master of the slow soundbite. It's like watching Kareem's sky-hook."