If everyone paid the percentage without loopholes and bogus deductions, we wouldn't have any problems today. There shouldn't be any deductions. The more money someone has, the more power they have over the government to legislate in their favor. Look at the Murdoch clause in the British telecommunications law. They actually called it the Murdoch clause! Look at JP Morgan Chase - received millions in taxpayer money promising to regulate themselves, 1 year later, they are up to their old tricks again. Companies WILL NOT regulate themselves. They will do whatever they can get away with for the almight buck. I'll say it again and for the one hundredth time - if we don't learn from the past we are destined to repeat it.