I think taxes should be based on a 5-year rolling average, to ease the burden for people who have high income only once in their life. Winning the lottery or patenting an invention that makes you rich is the American dream. Let’s tax high earners but show some lenience for folks who have a once in a lifetime windfall.
can just do a wealth tax or maybe rate based on total wealth. under a mil in assets and no tax on your earnings but 10% above a mil and 20% above 2 mil and 30% above 5mil and 40% above 10 mil and 50% above 20 mil and 60% above 50mil and 70% above 100mil and 80% above 200mil and 90% above 500mil and above a bil you start paying on total assets starting at 10% and going up 10% until you get to paying 90% of total worth every year. should hopefully keep every one below a bil.