What percentage of people were actually paying 90% in the 50s? Back then it was a lot easier to hide income. "Hauser's law is the proposition that, in the United States, federal tax revenues since World War II have always been approximately equal to 19.5% of GDP, regardless of wide fluctuations in the marginal tax rate.[1] Historically, since the end of World War II, federal tax receipts as a percentage of gross domestic product averaged 17.9%, with a range from 14.4% to 20.9% between 1946 - 2007.[2]" https://en.wikipedia.org/wiki/Hauser's_law
That's true. Although no one invests expecting to be wrong. On the first trade or investment, one faces that make 0.30 or lose 0.70 proposition. To be fair, I actually put that type of trade on today in AMZN (sold a credit spread). Of course, the higher risk, lower reward was reflected in the higher probability of a favorable outcome.
My reasoning is based on logic, not how it affects me. Although I realize that if the wealthy are disincentive from taking risk and investing, then that will affect growth and opportunities for all of us.
$421,000 to be a 1 percenter in the U.S., quite a bit more if you live in a blue state where economies are more robust and incomes are higher.
1%er is better off by describing net worth, since income levels are noisy. 1%er by net worth. https://dqydj.com/who-are-the-one-percent-united-states/