I have seen this written many times. Can you site, via a trustworthy link, one truly wealthy person who pays no tax? I'm not being argumentative, I'm hoping you can.
My investments are all with USAA, an investment house for ex-military. They are literally all in tax free instruments and doing quite niceley.
While not wealthy, I am not taxed on a cent of income from these funds. Multiply me by many truly wealthy people and you may get the drift...N'est Pas?