I'm not sure how it works over there, but here in 'Murica, the more you raise taxes on the rich, the quicker they start moving to Mexico (where there are no government services and the government still has the common sense not to try to milk every last nickel and dime out of the rich).
Either that or they raise prices to compensate, so people would have to further ask government to take over different aspects of business to prevent this from occurring. This process repeats until government has total control over the economy and thus, totalitarian state.