Taxes are for the small people as Leona Helmsley quite correctly observed. Even if the higher income tax payers are declaring & are paying their taxes properly the lower income people will be hit harder!? Not true!! Well, there are very few countries left now that would out-tax their high earners like Sweden and the UK did in times gone by.

All finance ministers now have heard of this supposed "rule" that if taxes are going up beyond x the tax revenue will go down. Real high taxes for the high earners are a thing of the past. So, the high earners will pay more and relatively higher taxes. But, as a percentage of disposable income, the higher tax payers will pay less then those on lower incomes.

Even if people pay no income taxes they still pay enough in VAT and other end user taxes that there disposable income will be well short of cranking up the (retail) economy.