Higher taxes won’t change anything unless you implement a wealth tax, which will never happen and be impossible to manage, because most of the wealth is unrealized and generated via capital, not labor
I’ll give you an example of what my parents do.
They have a pledged asset line backed by their stock (and other assets) that they can use to fund their lifestyle. They don’t incur any capital gains on their stock because it wasn’t sold and their assets appreciate at a higher rate than the low interest loans the bank gives them.
When they die, the assets will receive a step-up in basis and be distributed to me and my siblings - saving us a shyt ton in taxes since my parent’s’ original stock cost basis was ridiculously low since they’ve held the majority of it for decades.
This isn’t to say they never sell stock, for example, as they like to rebalance when certain positions are overweight but this is a strategy used to minimize their tax bill and eventually mine and my siblings
amazon pays above market rate for nearly all their positions.
