When the top 10% of wealth holders account for 50% of consumer spending, that's actually logical of them. Most of us aren't their target customers.

We need to go back to the way income taxes were for most of the 20th century. Using US numbers out of laziness:

By 1918, the top rate of the income tax was increased to 77% (on income over $1,000,000, equivalent of $16,717,815 in 2018 dollars[24]). The average rate for the (unspecified) "very rich" however, was 15%. The rate was increased in 1917 during World War I.[25] The top marginal tax rate was reduced to 58% in 1922, to 25% in 1925 and finally to 24% in 1929. In 1932 the top marginal tax rate was increased to 63% during the Great Depression and steadily increased, reaching 94% in 1944[26] (on income over $200,000, equivalent of $2,868,625 in 2018 dollars[27]). During World War II, Congress introduced payroll withholding and quarterly tax payments.[28]

Following World War II tax increases, top marginal individual tax rates stayed near or above 90%, and the effective tax rate at 70% for the highest incomes (few paid the top rate), until 1964 when the top marginal tax rate was lowered to 70%.

History of taxation in the United States