And you know what? We've got "temporarily embarrassed millionaires" who will fight you tooth-and-nail to defend that, in spite of their own interests.
This. Further, there's the tortured logic of libertarian theology where taxing those who can pay is immoral, and that as a moral people, we must not victimized these poor, poor, wealthy people.
The wealthy and powerful, on the other hand, have no problem voting their own interests as well as hiring pied pipers to convince the masses to vote against their own interests through propaganda. There's a reason why nominal wages haven't risen significantly in over thirty years while the stock market has: someone is making money and it ain't us.