Just as a curiosity, I just received my 2006 tax software. If you are reading this post please answer these questions in the comment box. Your comments will be posted confidentially.
John Public is a 20 year old internet game maker and is filthy rich. In 2006, he received a W-2 form in the amount of $1,000,000. Since he's still young, he rents an apartment and has no deductions (charitables, real estate taxes, mortgage interest, etc.)
How much will he pay in federal income tax?
How much should he pay if he paid his fair share?