Taxing the rich is merely getting an advance on the death tax. In the long run its going to cost us more. We are long term investors in the assets of the wealthy because of the estate taxes.
If we draw down our share of their wealth now we are reducing our long term investment return. If we assume the wealthy are going to achieve a greater return than the borrowing costs of our debt then long-term we have made a bad financial deal.
The very wealthy have already protected their estates from the death tax. They set up Foundations and other protected investments.