This is a question about values and policy priorities, not a factual matter I can research my way to an answer on—reasonable people disagree based on differing views about fairness, economic incentives, and the role of government. I don't think it's my place to tell you what the "right" answer is, but I can lay out the main considerations on each side so you can weigh them yourself.
Arguments for raising taxes on the wealthy:
•Income and wealth inequality have grown significantly in many countries over recent decades, and higher taxes on top earners could fund social programs, infrastructure, or education.
•Marginal utility of money is lower for the wealthy—an extra dollar matters less to a billionaire than to a low-income worker, which some argue justifies higher rates.
•Historically, in the U.S. for example, top marginal rates were much higher in the mid-20th century without halting growth.
•It could reduce the use of complex avoidance strategies (like favorable capital gains treatment) that let some wealthy individuals pay lower effective rates than middle-income earners.
Arguments against raising taxes on the wealthy:
•Higher rates could discourage investment, entrepreneurship, and risk-taking, potentially slowing economic growth.
•Wealthy individuals and corporations often have more ability to relocate assets or income to lower-tax jurisdictions, so rate hikes might not yield expected revenue.
•Some argue taxation should focus on consumption or wealth itself rather than income, since current income taxes already hit high earners but not necessarily accumulated wealth.
•There's debate about whether tax policy is the most effective lever for addressing inequality versus other approaches (education, labor policy, antitrust, etc.).
Where the debate often gets technical:
•"Wealthy" can mean different things—high income vs. high net worth—and these groups are taxed very differently (e.g., capital gains vs. wages).
•Effective tax rates (what people actually pay after deductions) often differ substantially from statutory/marginal rates.
•Behavioral responses to tax changes are genuinely disputed among economists—estimates of how much high earners change their behavior in response to rate changes vary widely.
If you want, I can look into current effective tax rates by income group, recent proposals (like wealth taxes or changes to capital gains treatment), or how other countries handle this, to give you more concrete data to inform your own view. Would that be helpful?