Income tax makes it difficult for workers to accumulate any wealth, but leaves existing portfolios intact and free to grow. If you look at really wealthy people

Income tax makes it difficult for workers to accumulate any wealth, but leaves existing portfolios intact and free to grow. If you look at really wealthy people, they are not squirreling away fat paychecks; they may not have paychecks at all. What they do is own assets that perform well. Their wealth grows totally immune to taxation.