You would also need to account for long term capital gains tax being at most 20%...

peterxpark on Aug 10, 2020 | parent | context | favorite | on: CEO of Uber: Gig Workers Deserve Better

You would also need to account for long term capital gains tax being at most 20% cap which is where much of the wealthy make the bulk of their wealth. And if you have a good accountant then you can easily find ways to even offset this.