>Just raise income taxes on people with high incomes. I've always been taught that "the rich" are people with high incomes; whereas "the wealthy" are people wi

>Just raise income taxes on people with high incomes. I've always been taught that "the rich" are people with high incomes; whereas "the wealthy" are people with high wealth (and generally no income). Billionaires have zero taxable income other than income they want to have (for other reasons). Billionaires own private banks that loan them cash at essentially zero rates. They do not need to sell stock. And the "loan" from their private bank is not income and thus not taxable. There is a simple reason why America has an income tax and no wealth tax. The truly wealthy (again, not the rich; the wealthy) do not have income and therefore do not pay income tax. Income tax is for laborers who work for a living, including rich people. There are exceptions - Elon Musk with a 'wage' he now proposes to be: 50 billion dollars per year. Seriously, why are we having this stupid discussion. Does anyone in their right mind honestly believe that Elon Musk and his buddies are paying millions upon millions of dollars to cover the cost of the campaigns of every member of Congress for fun? They control the tax code. And that is the only reason there is an income tax. And why there is no wealth tax.