Between this and much higher marginal tax rates, a lot of them may just stop working so hard.
https://ustrustaem.fs.ml.com/content/dam/ust/articles/pdf/20... (2022 Bank of America Private Bank Study of Wealthy Americans: The impact of shifting generational attitudes amid an historic wealth transfer) [Only 27% of the ultra wealthy are self made; 70% of Americans who hold more than $3 million are over 56 years old.]
https://www.cnbc.com/2021/10/18/the-wealthiest-10percent-of-... (The wealthiest 10% of Americans own a record 89% of all U.S. stocks)
Weird survey. Say you've got two middle class kids. Both have their parents pay for college. Both get business degrees. Both work hard and save. Both save 2 million dollars in preparation for retirement. One of them gets a 300K inheritance at 60 years old, and, just like magic, he is no longer self-made? It's amazing what you can find in a survey so long as you design the survey with that outcome in mind!
> The wealthiest 10% of Americans own a record 89% of all U.S. stocks
Owning equity in a company isn't rent-seeking.
The median CEO wage is under $1 million.