I believe the rich should not be subject to a higher percentage of taxes just because they make a higher profit.
It is because of that higher profit that they create jobs.
Take Sam Walton, the founder of WalMart.
It is because of higher profits that he was able to create more jobs.
And not just the jobs of working at the stores, but also created jobs for contractors to build more stores.
Start taking away more of their profit, and they hire less people (ie. less jobs created).
The first thing a business will do in order to offset lower profits is cut payroll (ie. lay off folks).
They have tried this before.
It was called a Luxury Tax.
People who had enough money to afford luxury items (such as a yacht, for instance) were required to pay a higher tax for that item.
What was the result?
Less yachts were bought by the rich.
Which meant that several folks who built yachts lost jobs.
Several folks who repaired and maintained yachts lost jobs.
Several folks who worked at yacht clubs lost jobs.
Several folks who worked at yacht marinas lost jobs.
