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> when New York Representative Alexandria Ocasio-Cortez proposed on 60 Minutes to hike the top marginal tax rate to as much as 70% on income above $10 million, Zucman and Saez were fast out with a New York Times op-ed in support.

Isn't he smart enough to know that such a tax would only serve to permanently entrench the super wealthy?

That's why I think Warren's wealth tax is much smarter and would effective.

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> Isn't he smart enough to know that such a tax would only serve to permanently entrench the super wealthy?

How?

because no-one will ever be able to make enough money to challenge the position of the super wealthy. The super wealthy, barring extreme inflation and unavoidable estate taxes, would become the permanently super wealthy.

is there evidence that there presently exist people who challenge the super wealthy who would be immediately and obviously affected by the tax?

Even a single example would be helpful

You should be able to avoid this via properly designed and implemented marginal tax brackets.

I'm guessing because actual wealth accumulates though capital gains and income sources that are not classified or taxed as "income"

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