and who decides who is obscenely wealthy, who decrees which wealth is idle and to be confiscated by your proposed taxation?
go read On the Wealth of Nations, On Liberty, The Road to Serfdom and Atlas Shrugged. Then study some economic history in the context of the precepts of individual endeavour, surplus value of labour, free-riding and mob rule. Then come back here and give us a coherent persuasive case for how WE THE PEOPLE can practically implement your theory.
God speed.