This is the exact opposite of what is needed both from a social services funding perspective and a wealth concentration perspective. People look at the rich and

This is the exact opposite of what is needed both from a social services funding perspective and a wealth concentration perspective. People look at the rich and are justifiably pissed because they see them holding a ton of power because of control of businesses that have a ton of market power (i.e. oligopolies/monopolies) to abuse via rent seeking. The correct solution to that is more aggressive antitrust enforcement actually breaking up many of these oligopolies, which will cut down on the rent seeking and make the market far more dynamic allowing people with good ideas to grow real competitors more easily. From the social service funding perspective, pretty much every first world country is flush with funding. Their problem is incredible amounts of misuse/abuse/corruption/misallocation. which we should be focusing on fixing. The above plan will just hurt those aspiring to be rich who have much more limited options for hiding their income/wealth from taxes, cementing in the rent seekers already at the top. Any further tax revenue will be going into incredibly inefficient and wasteful spending pipelines and will concentrate more power into those pipelines. It's a lose lose lose for everyone in those countries and everyone in the future.