[throwaway77388]

IMO the high taxes should be only for people worth tens of millions of dollars or more.

[Gibbon1]

Those high taxes were never about revenue, they were all about keeping corporate managers from looting the companies that employed them.

[throwaway77388]

I think I should have said 'very high taxes'.

[Gibbon1]

Doesn't matter even with the high marginal tax rates of the 1940's the amount of revenue generated from those taxes was small. Most wealthy people choose to reinvest profits rather than converting them to personal income.