well 705 of 11 million is 7 million 700 thousand so they would be left with around 4 million something afterword's.
but still that's a lot to lose. think about it, you work all your life to obtain a profitable business and start making money, you can afford to live in luxury and comfort, then the govt says you have to give them most of your money … now you have to give up a lot of the things you enjoyed due to the new taxes.