In case you've forgotten what we've said about this issue in the past, let me reprise why these taxes don't work. The wealthy didn't get rich by being stupid about money; they are very clever about money and the keeping thereof.
Raise tax rates on incomes above a certain level and wealthy people will arrange to earn less than that amount, or earn in different ways like capital gains. Do you remember how we once saw prosperous-looking farms that "lost" money and were told they were tax shelters for physicians and attorneys? I sure do.
Make the "tax the rich" laws tight enough and watch wealthy people move their citizenship offshore, as many very successful entertainers in Europe did. That happens within the U.S. today as people with significant income establish their residence in one of the seven states with no state income tax: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.
Finally, people with large incomes find it sensible to hire skilled tax attorneys and CPAs to help them protect income from the tax collector. For all of these reasons, taxing the rich may feel good but it doesn't work.
