I doubt that he is talking about high wage earners my friend. More likely, it is the Theresa Hinez types who are so personally wealthy that they can afford to invest in the many TAX FREE vehicles currently out there and live VERY comfortably on the proceeds with ZERO taxable income!
No, I don't think so. The quote from the article is the proof. This government used to run from tarriffs and duties alone. As applied then, those amounted to a consumption tax
The Tay-ray-zzzahs of the world aside, most of the "wealthy" use their earnings to....create more wealth. When that happens, more jobs and more opporunities are available. "A rising tide floats all boats".
To tax income is ludicrous because it attacks the very source of new wealth creation. Government does this though, because it's easy. Easy that is, until it starts to "nuance" what is income and what is not and we end up with a 22,000 page tax code.
A consumption tax is really the way to go, and while the rate may be equal the amount paid is not. I don't think Rangel's constituants are in any danger of being crushed under the burden of the tax on a yacht or personal jet. Yes, they may have to do without the spinners on their Lincoln Navs, but we've all got to sacrifice.