[lend000]

The top tax bracket in 1913, the first year of the federal income tax as it exists today, was equivalent to ~14 million dollars at today's value.

Our wealth inequality problems could largely be solved by fixing the tax brackets (especially w.r.t. capital gains). We don't need all sorts of new taxes, certainly not a wealth tax, before fixing the obvious problem.

That being said, $500,000 should have been taxed more heavily in 1977 relative to today in a perfect world, because that amount of money was worth a lot more back then. I don't think the numbers are inflation adjusted or it would make sense to do so without a big warning.