Taxing the uber wealthy 40% on their income (over the threshold of the lower brackets, which is the majority of their income) definitely seems great at first glance, and some may argue "fair". It's easy to get behind the notion of "Oh that guy is filthy rich - why not hit him up for 40% of his income, to let the guy making $30K/yr only have to pay 10%"? While that sounds great in theory - in practice, what happens is it drastically reduces the incentive for the uber wealthy (who are, not coincidentally, the most productive members of society) to continue to produce/work. That guy will say, why bust my ass (aka produce more output) when I'm only keeping half of what I earn?
This is the fatal flaw of letting politicians get involved with economics when they have no business chiming in there. They know there are more people out there making $30K/yr than $100mil/year - so if they can screw the few rich guys to give the notion of benefit to the many poor guys - they get more votes. They don't care if their policy ends up making the country worse off by slowing GDP growth - as long as they're sitting in office.
If one of those is one of my 5 in the Death Pool - I'm owed $130!