Here is the secret of why the uber-wealthy are totally unconcerned about the rate of taxation on income cash flow.
Governments do not tax wealth, they tax income from various sources. The uber-wealthy have short-cuts they can arrange with the tax specialists, in that they can take credits for distributing portions of their wealth in various politically desirable “charitable” contributions, thus bypassing the transfer first to the government, then to some agency, where it is then doled out for political favor. Or, differential tax rates for differing income cash flows, depending on other political purposes, as for example, income from municipal bonds versus the gains from the buying and selling of commercial instruments of value.
Nobody, except the very unsophisticated, ever pays anything like a 70% tax rate.
Thank you!