&gt;  I have worked with investors for 60 years and I have yet to see anyone — not even when capital gains rates were 39.9 percent in 1976-77 — shy away from a sensible investment because of the tax rate on the potential gain<p>I&#x27;ve been in finance long enough to believe that this is true.<p>The problem is that the rich have the ability to take their income in alot of different ways.<p>Tax income more, they&#x27;ll take it as dividends.<p>Tax dividends more, they&#x27;ll take it as capital gains.<p>Tax capital gains, they won&#x27;t realize their capital gains until they can offset them with realized losses or they&#x27;ll just get bank loans again&#x27;t their stock holdings.<p>Tax assets on death and they&#x27;ll pass them o n in trusts.<p>Some will move money off shore if they think they can get better returns that way.<p>The problem is that no tax code can close all loop holes because you just can&#x27;t foresee the creative ways people will out maneuver the tax code.<p>Who would have thought 25 years ago that companies would buy other companies in different countries, not to acquire their products or markets, but to acquire their headquarters address to lower the tax paid in the US.