even a 90% marginal tax would not reduce them to everyday levels of affluence.
Personally, I think increasing taxation is attacking the symptom, not the disease. I think the disease can be better tackled by directly strengthening the position of the poor, for example by strengthening unions.
I absolutely think the wealthy should be taxed appropriately, and they're not now. But, say a wealthy person make a billion a year today. Tax them at 90%, and what do they do? They re-work the system to make a trillion a year, and purchase laws to get that tax money spent on contracts with their companies. Like metastatic cancer.
Empowering unions and labour strengthens the lower class. Building infrastructure strengthens the lower class. Reducing the ability to purchase laws—lobbying, election funding, et cetera—strengthens the lower class. Taxation sounds good in campaign promises, but I'm not convinced it has meaningful, long-term impact on the lower class and standard-of-living.