[srj]

You're assuming a large overlap between top 10% income and top 10% wealth. I'm not able to find great data on this, with most sources just focusing on one or the other. It seems to me though that many of the wealthiest individuals, including those drawing down retirement savings, probably have low W2 income.

[marrington]

This discrepancy, and people's unwillingness to intellectually engage with it, is what allows the extremely wealthy to be just fine with society demonizing high income people. Once you have stored wealth, you don't care any more because there is no wealth tax (other than property tax and inflation). Taxing high income people into oblivion is what allows the very rich to keep their club small.