The title speaks for itself

Of course, this also means that tax receipts are going to be significantly more variable. When things are going well in the economy, the people on the top of the salary distribution will do very well, and will pay a significant amount of money. Which will lead to excess spending, as good times probably won't stay. Then when things are going poorly, the rich will (as a percentage of their income) do less well then middle class people. So, tax receipts will drop off the table and.....