The point is that most taxes except wealth and consumption taxes are very easily avoided by wealthy people. Perhaps even taxes on wealth are hard, since wealthy

The point is that most taxes except wealth and consumption taxes are very easily avoided by wealthy people. Perhaps even taxes on wealth are hard, since wealthy people can just create some kind of charity and move most of their wealth into the charity. Make the charity fully controlled by the family and it's a great way to protect ones wealth. Most of the income can be spend on stock purchases and perhaps <1% of the yearly profit can be spend on the actual charity, while another big part of the profits can be used to provide secure income for family members and friend working for the charity. Also, it's a way to avoid inheritance tax and to prevent someone running off with part of the wealth after a divorce. Taxing income is in my opinion both unethical and rich people can avoid tax on most of their income anyways if they put in a little effort.