Just like today.
Today the Concentration of Wealth Is Huge
400 Americans are worth more than $1.5 trillion and they are making
nearly $200 billion a year. Just one percent of the country own over 1/3 of the nation's wealth while the bottom half of the nation owns a mere one percent of the wealth. America is one of the least equal countries on earth.
Billionaires Are Not 'Job Creators'
Ninty-seven percent stuff their wealth in the rich guy equivalent of the sock drawer - bonds and property.
Hedge Fund Gamblers
Derivatives markets make $1.2 quadrillion(!) in trades per year, a tax of only 0.1% on these transactions would balance the federal budget. Their profits are taxed as capital gains, at a far lower rate than earned income. There is no practical nor moral reason that unearned income (dividends and capital gains) are not taxed at the same rate as earned income (salaries).