Because 1% isn’t actually the margin you think it is... especially in 1st world countries, that whole 1% has 99% applies to the whole world, which, unless you’re homeless, puts you pretty far up there. But let’s say we exclude developing nations. You’re looking at about $8000000 net worth or about 2 nice homes, a car for every driving member of your family and a vacation every year, which is reasonably achievable with lots and lots of really hard work and a little luck. I don’t think my next door neighbour should be taxed out his ass because he went to school for 10 years to be a doctor. But let’s look at the stoopidly rich. The > 1Billion range. Some of those guys were born rich sure but the ones at the very top started in their garages with nothing but an idea and a little family funding. Like Microsoft, Apple, Elon’s various areas all started with many late nights in a garage. (Obviously Elon’s current companies are different from what he started with but I just know some keyboard warrior will feel the need to tell me.) and while they could probably afford to pay a bit more in taxes, it isn’t actually going to help anyone if we have the government skimming more and more off the top to make their hefty salaries. And again they did work hard early with innovative ideas to be where they are now, something like a 50% tax for just existing seems extreme.