[nullc]

I am not following your reply. Consider that you face two options for organizing your business activity-- you can operate it as a pass through entity of some kind (s-corp, sole proprietorship, etc) or you can operate it as a c-corp. The c-corp path will result in double taxation, corp tax and LTCG. But the combination of the two is a similar rate to the tax on income (e.g. 21+20% vs 37% top marginal).

Cranking the CG or corp tax rate even higher will result in more businesses with less diverse ownership, even if only on the margin, which would result in increased wealth consolidation.