As everyone knows, the "fiscal cliff" deal raised taxes on households making over $400,000, restoring the Clinton-era top income tax rate to 39.5 percent.
One fact that gets less attention, though, is that progressivity in the tax code ends right there: There is no difference in the tax rate paid by a two-income professional couple bringing in $400,000 and a CEO who brings in the average pay for such executives, which was $14 million in 2011.