The tax should be on wealth, not income. Why? Far-above average wealth amassed by 1 person represents wealth not in the hands of a wider public. This is damagi

The tax should be on wealth, not income. Why? Far-above average wealth amassed by 1 person represents wealth not in the hands of a wider public. This is damaging to society in many ways. Example: compare homeless person who has ~0, buys a lottery ticket and wins $1M, with someone who already owns property worth $10M, and doesn't work in a year (and/or has accountant do creative bookkeeping to put income at ~0). It makes no sense to (heavily) tax that newly minted millionaire since "high-income", while their ~0 income neighbour sits on a $10M home/yacht/pile of stock options/whatever. This holds even more true as you look further up the amassed-wealth ladder. Redistribute those goodies! Well at least some of it, each year.