It has long (since the 14th Century) been understood that raising taxes on the rich does not increase revenue.
It should be known that at the beginning of a dynasty, taxation yields a large revenue from small assessments. At the end of the dynasty, taxation yields a small revenue from large assessments.
‘Abd-ar-Rah.mân Abû Zayd ibn Khaldûn (1332-1406)’
More recent, See Hauser’s Law
The two years with the largest amount of income taken from citizens by U.S. taxing authorities are 2000, and 2007 at just below 37%. Following each year the country experienced a recession.