It would mean that income is taxed twice or equivalent to it being taxed higher. Under a core assumption here that the tax revenue is used to help, this is bett

It would mean that income is taxed twice or equivalent to it being taxed higher. Under a core assumption here that the tax revenue is used to help, this is better than it not happening. More importantly though, it's not a precise tax plan it's intended to show the absurdity of the outcome we currently have rather than show a particular way out. That the answers are often "but there would be loopholes" rather than "having people amass much more wealth is inherently good for us all" is telling.