Piketty’s new gilded age which isn’t

It is claimed that the following won't end innovation nor growth.

Mr. Piketty urges an 80% tax rate on incomes starting at “$500,000 or $1 million.” This is not to raise money for education or to increase unemployment benefits. Quite the contrary, he does not expect such a tax to bring in much revenue, because its purpose is simply “to put an end to such incomes.”--- Hotair via Free Republic

I feel that I can be assured that it is precisely why the tax is being proposed.  That is, to end economic growth, innovation, and prosperity.  Socialism cannot exist in the midst of prosperity.  We knew that during the Cold War.  Perhaps that knowledge has already been forgotten.  It is predictable that the left sabotages economic growth and then blames capitalism for failing to deliver it.