When you're talking millions in income it can be that high depending on your state... IIRC, as peer comment mentions, Washington doesn't have state taxes, you still have a nominal rate for Federal at 38% though, and I'm not sure about sales, property or other taxes, which again, likely approach or exceed 50% against total income.

Just checked, seems it's now 37% for the top federal bracket... for what it's worth, I think it's amoral to tax more than half of what someone makes, regardless of how much they make.