You lack imagination. Taxing the rich does not have to mean tax income. Taxing the rich does not have to mean the 1% it could mean the 0.01%.

Wealth tax, tax net worth. If you want to keep your U.S. citizenship you have to pay a percentage of your net worth. Any undeclared assets are subject to confiscation by the state. If you are not a citizen and assets held inside the U.S. including financial markets and real estate are taxed.

Yes, the elite will not let this happen or if it does make sure some how they get an exemption.

In the end if the rich do not find a way to show progress at ending poverty they, the rich will suffer too.

TEK