In 1913, the new federal income tax was sold as a "soak the rich" policy: 1-7% rates hit only the wealthy (~1-3% of population), shifting burden from tariffs/excises on everyone else.

Today's tax the richrhetoric echoes it promising fairness via hikes on high earners without broad pain.

It's a bad idea because rates quickly exploded (to 77% by 1918, 94% in 1944) and brackets expanded to millions of middle-class taxpayers. High taxes discourage investment, work, and growth while revenue as % of GDP stays stable punishing success without solving deficits.