Does the Income Tax tax income ? Or just our patience ?

No matter how often it is falsely stated: the "income tax" does not tax the rich. It should be easy to tax the rich. All that is needed is to look at the ownership interests in major assets and send out tax bills that would correspond to the value of those assets.

The income tax on the other hand is the most destructive element to attack individual liberty ever devised. And - it does not tax income; not the income of the rich anyway. This most interesting case to make my argument was just published this weekend: 

http://www.bloomberg.com/news/2010-10-21/google-2-4-rate-shows-how-60-billion-u-s-revenue-lost-to-tax-loopholes.html

And yes, what this example shows is NOT the exception but the rule. If you are already wealthy, you can afford to plan your income and hire the accountants and lawyers to show you how to pay little or nothing. 
But remember, it's not about the money, it is about the method: it places the burden of figuring out what is owed on the individual and it is impossible to figure ! 

This system cannot be fixed and needs to be ended.