You can't tax that which doesn't exist.

In another thread I covered this in depth but I will try again. Money is a place holder for goods and services. Goods and services exist in the moment but money allows for them to be promised for future redemption. Only a primitive economy could operated in the now. The inefficiency of requiring commodities for exchange should be self evident. What may be less self evident is that money is a kind of denominated I Owe You. I Owe Yous that you must accept under force of law, legal tender as it were. Even precious metals are commodities and make for a very primitive and inefficient means of exchange. In reality precious metal coins worked under the same principle of legal tender in which the state more or less forced their acceptance by law. The point is that the value of money is abstract as is the value of precious metals. Money is only valuable when a state exists to enforce it's value. That does not mean that there are not extra legal exchanges. Bitcoin comes to mind and obviously Bitcoin has value. The difference is that tomorrow the value of Bitcoins could evaporate if people stop accepting them. There is no state to enforce their value. All monetary systems operated on faith. Faith that in the future money can be exchanged for goods and services.

An example of how faith works is a gold rush town. Everyone assumes that gold will always have value. The problem is that like money it's value fluctuates. In gold rush towns because goods and services were rare but gold plentiful goods and services could be exchange for relatively large qualities of gold. Basic inflation if you like. In this case no faith in the availability of goods and services made gold less valuable. The same thing can happen to any monetary system it doesn't matter if it uses legal tender or precious metal.

The reason you can't tax the rich in the modern world is that most of their "wealth" is not held in commodities and they have no way to repay in or exchange services. What the rich have is lots of I Owe Yous of various forms including currency, bank statements, precious metals, stock, bonds, etc. all or which are abstract but have no intrinsic value. When the state taxes it is collecting I Owe Yous. I Owe Yous that the rich cannot redeem because they are not direct producers. The state takes the I Owe Yous from the rich and everyone else but they only have value when they are exchanged for goods and services that have to be provided by labor. The state has little use for land, raw materials, equipment or anything else that can be said to have productive capacity. The state uses the I Owe Yous it has collected to compel labor for the things it does need. Labor to build the machines of war, labor to provide welfare, labor that it's employees can use to compel someone else to build them a house etc. If the state cannot compel labor it is helpless. It most enforce the abstract value of it's currency.

The interesting situation we find ourselves in today is that the rich hold vast quantities of I Owe Yous including derivatives of various forms for which there is not enough labor in the moment or in the conceivable future to be exchanged for actual value. If they tried to exchange those I Owe Yous the shortage of labor and commodities would crash the system. Labor would become so valuable that only the rich could employ it. It would starve the intricate system that keeps labor alive and willing. Similarly if the government took all the I Owe YOUs of the rich and tried to use them the system would collapse. What the state is taxing is your potential labor and potential ability to consume. It makes your labor available indirectly for it's own ends. The rich of course understand this so they ask what use is this abstract thing called money and often the answer is power. The ability to control others through the guarantee the state has made that it will enforce the medium of exchange.

The problem isn't that the ultra rich are consuming too much or that they have too much money it's that they have too much power. In a functional society that power would be balance by the state acting in the interests of the productive. Unfortunately our politicians and technocrats consider the productive deplorables. Basically they are corrupt morons making Joe Biden the perfect figurehead for a system that no longer functions because it does not understand value. It is fundamentally immoral to assign value to that which has no value. Joe Biden has no value and as such represents the fundamentally immorality of our system.

or maybe collect anything from the bottom 57% that pay a net negative tax rate. 1k from them would go farther than all the money from the top…. roughly 2 trillion dollars in fact, more than the top 1% total net worth…. maybe the lower class would start getting as pissed as the rest of us when we hear that pakistan will get $25mil for gender studies or we give $1billion to honduras to bribe their officials to force them jot to illegally migrate.

Corporations do not and will not pay more taxes or any taxes!!! Taxes have always been a business expense, and is always past on to the consumer!!!!
So, get ready for price increases!!!
Here is the real problem, nothing is FREE, someone always pays, guess who?????