I'm sure we'll hear from the "taking other people's money" crowd here but I've thought this would be a good idea for years. Doubt if we have any multi-millionaire US citizens here so we would all get a tax break. And the money hoarders would get a deterrent (which was the real reason for the Eisenhower years tax rate which was not to make the government rich).
http://www.huffingtonpost.com/2014/10/22/economists-tax-rich_n_6024430.html Billionairism is a mental illness.
