As you will see in this video, over-taxing the rich is always a bad idea. I think it is basically the government stealing money from the hard working businessman. Most of those who are rich worked very hard to get there. They deserve what they earn. And when the government takes it away, it never has a good outcome. Businesses will move out of country to avoid taxes; they will loose all incentive to work; their businesses will end up making less money, thus they have less incentive to keep the business going. Entrepreneurship decreases, because new businessmen have less hope of making it work.