Actually when the top income tax rate was in the 60's in US the capital gain tax was around 25%, so the effective tax rate for the super rich was only 30%. If

Actually when the top income tax rate was in the 60's in US the capital gain tax was around 25%, so the effective tax rate for the super rich was only 30%. If this authors suggest the capital gain tax should be raised to 83% for the rich then it will simply result in zero tax revenue from the rich. If my capital gain tax rate is 83% i will simply pledge my stocks to the bank and get a loan on it and spend it instead of selling the stocks and pay the tax!