For the year 2011-12
Name Income Sacrifices/tax Increase in tax
Joe $ 37,000 12.57% 12.57%
John $ 74,000 21.28% 8.71% (21.28-12.57)
Jack $111,000 26.14% 4.86% (26.14-21.28)
Jill $148,000 28.86% 2.72%
Jess $185,000 30.70% 1.84%
Jenny $370,000 37.85% 7.15%
Mark $740,000 41.43% 3.58%
Mike $1,480,000 43.21% 1.78%
May $1,850,000 43.57% 0.36%
Tony $2,960,000 44.11% 0.54%
Tony earns 80 times of Joe's income (or 80 years of Joe's income in one year or 80 such Joe's income). But Tony's sacrifice is 3.5 times the sacrifice by Joe!!!
There are individuals earning in millions as salary in a year.
As the income increases the percentage of tax decreases!!!
Totally opposite to the meaning of 'Progressive Taxation System'!!!