&gt; Why would the next generation want to take up that room?<p>Because they want the things money can buy.<p>&gt; Would you take up a career where despite long &amp; expensive education, long hours, hard work, and lives-in-your-hands responsibility, you kept just 27% of your income?<p>Maybe, maybe not, but, anyway, that&#x27;s not how marginal rates in a progressive tax system work. Even if the <i>marginal</i> rate that kicks in at $10 million is 73%, that means you only keep 27% of the amount <i>after</i> $10 million, and some greater amount of the part below $10 million. Obviously, an increase in the top marginal tax rate decreases the incentive to work to <i>increase</i> income once you&#x27;ve reached the annual income level at which the higher tax rate applies, but doesn&#x27;t it really hurt anyone that people already making at least $10 million&#x2F;year prioritize making <i>additional</i> income less over other priorities?