J.P. Morgan insisted that he and people like him should never pay more than 15% in taxes. But that is a totally ridiculous notion.
People like Morgan don’t want the money for the wealth primarily, no they want it for the power. And when they get such power (which is illegetimate power in every way) they set to work on using it to convert society into a system where all power is vested in arbitrary accumulations of private (illgotten) wealth. And this quickly destroys and collapses any capitalist society.
You see these people don’t actually contribute and relative to the societal wealth they lock up are unable to actually consume to circulate production. Their actual contribution is a massive net negative whereby everything is hallowed out and cheapened to the breaking point.
You see amongst the super wealthy an Edison or Bell would be exceedingly rare. People like Tesla are stunted by the wealth differientials. Even people like Ford, Jobs and Musk are exceedingly rare. But such people are always held up as loss leaders for parasites like the Morgans and Rockerfellers and Kochs. The parasites are mere money changers. Their power came from using money to abuse other people and if allowed they will completely corrupt a state with claimes about how their abuse of power and their theiving should not be limited and soon a societies entire productive means is locked by them and the society dies but also goes to hell over the lies they spread through their puppet organizations which appeal to people’s baser natures to keep the slide toward total corruption moving through division.
So, it would be perfectly fine to tax away the wealth these crooks steal and burn it vice redistribute it. They take it out of productive or meaningful circulation anyway. But at least burning it denies them the ability to abuse people with it and stops the foolish admiration by people who don’t know they’ve been stolen from.