The "millionaires and billionaires" that the left ostensibly hates do not make their money through income or corporate bonuses. Individuals like Nancy Pelosi (who bought LEAP calls on Zoom in 2019, how convenient) make their fortune through capital gains.

We COULD have a more equitable society if we raised the capital gains tax.

Raising the income tax only hurts the upper-middle class and lower-upper class, effectively creating one giant middle class and one tiny legacy class.