If we take your thought experiment to the extreme, it could look like this: The wealth divide continues widening. After generations, and the "snowball effect"

If we take your thought experiment to the extreme, it could look like this: The wealth divide continues widening. After generations, and the "snowball effect", Jeff Bezos' great-grandchildren end up paying all the taxes because everyone else in the country makes so little (only enough to survive) that they don't have to pay in. At this point, a single-family has a say on how the money will be spent. And you may accept this scenario, but now that same family literally controls the movement of all food and people (through our road systems), our country's national defense, and most importantly, the ability of any of the rest of the poor people in the country to ever not be poor forever after. So, using proportional representation (as you appear to advocate) and the idea that even modest returns on very, very large amounts of money will eventually overtake the rest of the economy, we have moved from a democracy to a monarchy or oligarchy. I don't want my hard-earned saving to be taken away, so I am sympathetic, but there is still the real-world problem that if money isn't forcibly redistributed at a rate that eats into the "magic" of compound interest, it is only a matter of time before there is a problem. And if it must be redistributed, I rather it is redistributed to the government for the good of all, rather than just handed out evenly among everyone.