There are several faults with this reasoning. Capital attracts capital, and with too low of marginal taxes, it pools at the top, increasing wealth inequality, hurting the non-elite's ability to compete, and squeezes the middle class. To say marginal taxes is communism is just wrong.

Capital attracting capital is as natural as power corrupting people. Instead of hoping people play nice and punishing the few who get caught and hoping against nature, the better alternative is to set up systems that encourage healthy, competitive markets through sensible rules, regulations, and redistribution.

Edit: re the socialism/communism scarecrow, back when woman started wearing pants in the US, they called it socialist. That same logic is oft applied today.