Weird that you think incomes that can approach effective tax rates of ~50% are the problem and not the capital gains that are taxed at 15% to 20%.

If you are wealthy you don't need an income that's taxed a high rate for the plebs, when your wealth is generated by capital gains. Surely you knew this.

Also, your hypothetical is a bit weird. The point of investments isn't to liquidate them immediately, but to reap returns. Owners of significant assets tend to borrow against them instead of liquidating them.