If you look at the data, by relative income there were more people earning the top marginal tax rate then than there are now. That's the entire problem and why it's a ignorant argument, it's based on income. Those multi-millionaires/billionaires are not earning income, it's investments that are driving their wealth. We already have a tax basis on that. So what the real change would be is to move to a wealth tax, however that has failed in every country it's been enacted in.