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As for what is "fair share" I think the reason that term is used now is because of effective tax rates. Many super wealthy individuals end up with an effective tax rate that is lower than the effective tax rate of Americans making less (see this for example). And many corporations raking in billions pay effective tax rates of 0 because of various loopholes. That's the fairness issue being pointed to.
I think "fair share" arguments also are pointed at the disparity in income vs. capital gains tax rates. What the "fairest" rate for each income level is I don't know, but I also don't think that's the point. If the wealthiest are paying rates lower than those who are less wealthy, that simply is not their "fair share" whatever the ideal rate may be.
Effective tax rates make no difference. 50% of Americans pay zero in federal income taxes while the top 10% pay the huge portion of all federal income taxes collected. Does Warren Buffet's secretary really want to pay the tax bill of Warren Buffet? I think not.