Top 1% of earners != Top 1% of wealth.

The top 1% of earners (doctors, lawyers, dentists) usually get shafted with income taxes while the top 1% rentiers get taxed very little - especially in California (which has very low property taxes).

The rentiers usually try to rhetorically conflate the two - primarily because the 1% of earners are taxed a lot and there is an obvious societal downside to taxing (e.g. dentists) more (we need their skills) but especially because the only societal downside to taxing a rentier more is by incorrectly identifying/taxing rentier behavior.