Increases to income tax generally won't lower a wealthy persons wealth, just the rate at which they can increase their wealth. They already have the money, and it will keep paying dividends and interest.
Unless you're talking about a new kind of wealth tax, but those aren't particularly popular...
Increases to income tax generally won't lower a wealthy persons wealth, just the rate at which they can increase their wealth. They already have the money, and it will keep paying dividends and interest.
Unless you're talking about a new kind of wealth tax, but those aren't particularly popular...