Raising the highest tax bracket has historically resulted in less tax being paid by the rich. This is because it increases the demand for services and banking i

Raising the highest tax bracket has historically resulted in less tax being paid by the rich. This is because it increases the demand for services and banking instruments that lower tax liability. Because higher taxes mean more rich people are seeking to shelter their assets, businesses can start to offer these services which are typically not very profitable because there are larged fixed costs and not enough market demand. However, increasing demand for tsx shelters by raising the rates make these businesses profitable. Thus, a rational billionaire seeking to shelter their assets via companies catering to the rich has it in his or her best interests to call for higher rates. It is clear that these people are uninterested in paying higher taxes as it is completely legal to pay more taxes without any legislation. Thr website pay.gov accepts money for those who would like to contribute to the operations and debt costs of the united states government. Until buffett and others make actual extra tax contributions to the government (as opposed to their own private charity), I'll continue to ignore them