Remember, the rate on earned income is PROGRESSIVE ~ so your first $40K might be taxed $0 because you have various exemptions and deductions, but the next $40 K is certainly going to be at what Mitt paid, and your third $40 K will be taxed at a rate far above anything Mitt paid.
I know there are all sorts of justifications for this disparity, but seriously, people don't look at their average rate, they look at their highest marginal rate when they compare their pitiful little quarter million dollar salaries against $20 million in capital gains!
The conclusion is that even if it's a neat idea and encourages investment ~ in something ~ whatever that is ~ talking about it in public doesn't win voters. Actually, it does this ~ I WANT MITT's AVERAGE RATE!
LLS