OT - It would have to create new taxes on wealth instead of income to fund it. We made so many bad economic decisions over the last two decades that we can't afford taxings tomorrow's income to cover it.
I would suggest that income tax isn't, per se, the solution. Something is more structurally wrong when so many people are so easily too highly compensated for risking other people's money (CEOs and money managers).
However, that said I haven't seen any good proposals to fix it other than bandaids - like government mandates.
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