Calls to “tax the rich” are gaining political momentum again. Frustration over rising costs and a widening income gap is real. But populist slogans often promise more than what good policy can deliver. The reality is that high earners already pay a disproportionate share of the federal income tax burden. The top 1 percent pay nearly 40% of all federal income taxes. Those in this tax bracket are typically business owners and entrepreneurs. When the government takes more, it discourages growth and peels off resources for expansion and job creation. This doesn’t deny that there’s greed and injustice. But targeting a small group of wealthy Americans isn’t just either. In the end, it will hurt those who can least afford it.