The premise is more than likely correct. Lots of rich folk get taxed in the 40% range, others do not.
However I'd like to see the magic by which they arrive at those making 50-75k only paying 15%. Maybe if that is your income and you have 6 kids and a $500k home while giving away 25% of your post tax income to charity. It also completely ignores the social security tax, which doesn't increase for those over $107k.
Most of my working life I made less than 75k. I don't think I ever managed to get my effective federal rate below 22% during that time.
This argument, that the poor abused CEOs are already paying nearly as much percentage wise as those who are still in the middle class is pure reverse class warfare.
The people in the very upper income range are the only ones who have prospered during the past few years, but you wouldn't know it the way they keep crying that the poor aren't paying their far share, and all the rest of this nonsense.
Leona Helmsley was ahead of her time when she famously said that only the little people pay taxes. The richest 1% have now gotten such a stranglehold on both political power and the messages coming over the Lame Stream Media that they aren't satisfied having it all anymore, they want to have it all TAX FREE.
Did you see how fast the GOP candidates, who have taken that no new taxes pledge all endorsed new taxes as long as they weren't going to affect upper income brackets.
That should tell you everything you need to know about the current state of politics in this country. Our new motto is "Everyone is going to have to sacrifice so that the Executive Class can have their way.
You got to hand it to politicians and the things they can say with a straight face ... they will complain about the rich and then they go get handouts from them for were $35,800 per person, with $5,000 going to the Obama campaign and the rest going to the Democratic National Committee. That 19s the maximum contribution allowed by law. I'm sure there are no strings attached 
No Solyndra type favors 
Mr. Obama is in New York for a meeting of the United Nations General Assembly. On Tuesday night, the president and First Lady Michelle Obama are to host a gala at Gotham Hall that includes a performance by singer Alicia Keys. Tickets for that event started at $2,500 and go up to $15,000 for a dinner and photos with the Obamas.
All this talk about millionaires but yet they are talking about increased taxes on people who make over $200K single and 250K married .. gee .. what kind of fuzzy math gets your from 1/4 of a million dollars to be considered a millioniare???
There is such a thing called AMT (Alternative Minimum Tax) ... that was originally set up for rich people back in the 80's so that they would have less tax write offs- .. well the value has not changed much since then - this years AMT started around $150K .., again .. hard to consider someone a millionaire when they are making $150K. 150K ... Good money in deed - but adjust for inflation that 150K in 1980 dollars is worth 391K in 2010 dollars due to the results of our federal govt and federal reserve devaluing the dollar with their inflated and overbudget spending for decades.
The article is misleading. It talks about income while the top 1% make a majority of their money from capital gains. Hedge fund managers who have the highest income pay 15%.
thebaron
Surprised that they call BS on Obama and Warren's claim, but the truth don't support them.