You can tax 100% of the annual income of the wealthy and still make only a dent in the growth of the deficit by Obama.
The sheeple do not know this. It just feels good to “stick it to the man.”
However, I must admit, I would take perverse pleasure in seeing all the crony capitalists, all democrat and many republican congressmen, the bastards on Wall Street, and the crooked executives in banks get clobbered. But these are all the protected classes who won’t see a dime of increase.
Once raising rates on millionaires fails to raise the desired revenue, the next step is actual confiscation of savings. This can be done via an intangible asset levy.