Other factors have to be considered as well. The wealthy or super-wealthy (individuals or companies) are usually more mobile. A middle-class, working individual, with a mortgage, is pinned down to a greater degree. It also depends on the mobility of capital goods. If you have big, hard-to-move infrastructure, you are pinned down. "Patriotic" millionaires notwithstanding, turning the screw on the rich and mobile may just mean more capital flight. Screwing the heavy industries would just discourage investment in that sector (i.e. Detroit).