Until defined and brackets from $x to $Y will pay _ _ _, etc
it is impossible to answer the question.
Wealth, has arbitrary definitions ranging from $75,000 to multi billions....a big difference.

As a result smal business owners who are not really "wealthy" can/will be affected. This is the area where it counts the most. This is the area that will not hire if they have to pay more taxes, etc.
Millionaires and billionaires have less impact on employment and they have the legal where withall to avoid any tax levied on them they so choose to avoid.

The small business owners are caught in the generalization of "wealthy".

That has to be sorted out to have any chance of success.

btk