"Tax the Rich" seems to be a popular sentiment (probably because the majority of people aren't rich and would rather anybody but themselves pay more in taxes), but is it effective? The richest 1% of the population already pays for 40% of the US's total Federal Income Tax revenue, and the top 5% pays for over 60%. (http://www.ntu.org/main/page.php?PageID=6). And because of the Laffer Curve (http://en.wikipedia.org/wiki/Laffer_curve), increasing taxes to the rich could very likely result in LESS revenue.