"No jurisdiction has ever taxed their way to prosperity"

I guess you have no knowledge of what FDR did in the US and how progress income tax created the golden era of capitalism, not to mention the Bretton Woods system.

It still amazes me that the bottom 95% still buy into neoliberal economics.  Please remember what the great Alan Greenspan said about the collapse of the US financial sector.  He said he did not know why the market failed at regulating itself and admitted his assumptions were wrong.  I submit that the belief in a free self regulating market is a myth.  There are all kinds of so-called distortions.  Many of which are created by the free market fundamentalists themselves.

The true income of the people reporting income of $220k (members of the 1%) will not be taxed at 50%.  I do not understand why you are even concerned.