The reason rich people get and stay rich is they know how defend their wealth. When greedy politicians call to “to tax the rich”… the rich know how to use the greedy politician’s greed against them. They buy them off with “contributions”… also called bribes. They get “exemptions” (much cheaper than taxes) passed in just about every tax law. #CostOfDoingBusiness. Then as always the major part of the tax burden (again) falls on the working folks, especially on the most industrious “near rich” (who provide most of the jobs)… who live pretty good but are not rich enough to buy “exemptions.”
So after the election, another set of promises is shelved till the next election. 100 years plus in some cities and states. Like Lucy, Charlie Brown and the football… enough voters keep falling for it, to keep the greedy politicians in office. Rinse, repeat.
Both parties do this, but Democrats are much better at it.
Rich people can afford to diversify—multiple homes in different locations, including different countries.
Then they can locate or relocate their businesses to the location with the best tax/regulatory environment.
The “near rich” tend to be stuck in one location—easy targets and hurt most by all local politics.