It wouldn't raise enough money. Probably better to say: "Tax the multi-millionaires", or even people who earn more than 1M USD per year.

What if we change the tax code such that passive income (capital gains, dividends, coupon payments, etc.) is taxed at a higher rate than active (employment) income?

> What if we change the tax code such that passive income (capital gains, dividends, coupon payments, etc.) is taxed at a higher rate than active (employment) income?

Doing so by lowering the active income rate wouldn't raise more money, and doing so by raising the passive income rate would kill investment and job creation and send us into a depression.

That already seems to be happening. Business leaders with capital are actively trying to replace workers with AI or offshoring; so what would be the extra damage from codifying that we want folks to put their money here?