Tangentially, the solution would not be higher 'income tax', but higher capital gains tax.
The confusion largely is that 'income tax' is really 'wage tax'. Income common wealthy people with lots of capital is return on their capital investment, which is exluded from that tax.
I can fill in the blanks in my head, but I doubt they are what you're thinking. Would you mind elaborating on the cause/effect you have in mind? It is difficult for me to imagine this in and of itself being successful. We would also need to solve the allocation of those collected funds, as in many countries it would likely go to welfare, defense, corruption, etc.
Tangentially, the solution would not be higher 'income tax', but higher capital gains tax.
The confusion largely is that 'income tax' is really 'wage tax'. Income common wealthy people with lots of capital is return on their capital investment, which is exluded from that tax.
I can fill in the blanks in my head, but I doubt they are what you're thinking. Would you mind elaborating on the cause/effect you have in mind? It is difficult for me to imagine this in and of itself being successful. We would also need to solve the allocation of those collected funds, as in many countries it would likely go to welfare, defense, corruption, etc.
Income tax is class warfare. No thank you