This book explores the debate over whether the top two marginal tax rates should be permitted to rise back to their 2001 levels - from the current 33 per cent back to 36 per cent, and from the current 35 per cent back to 39.6 per cent. The analysis takes into account the relationship between the top tax rates on ordinary income, the tax rate on capital gains and dividends and the alternative minimum tax. Arguments for raising the tax rates on high-income taxpayers start with the need to raise additional revenue and to signal the beginning of an effort by the United States to reduce its deficit. This policy is viewed as collecting revenue from taxpayers with the most income, who received the biggest Bush tax cuts, and who are least likely to reduce their consumption spending or work effort in response to an increase in their marginal tax rate.