Yup, a scam that's being sold sold to the naive masses.

Your Billionaireness is measured in net worth, not cash. Do they tax all of it or do they tax savings, income, etc? I'm not familiar with the plan but I guess anyone (with enough resources) who disagrees with it could just swap countries. The government wins, the country loses.

Then, taxes do not go where you think they go. They are mostly allocated to serve politicians' egos nowadays. Spending them free money to undo what the opponent's administration did sounds like a plan. And some candy for the masses.

I'd rather trust them entrepreneurs to distribute the wealth while they spend it on projects, rather than the government. I saw people moaning about money being wasted by throwing rockets at space. By people who cannot get off their satellite-reliant gadgets but that's not the point. The point is, the money were not spent at alien brothels and the like, they were spent on Earth so they can continue to move around here.

With each move being taxed, of course.

Initially, it's sold as...

We get to decide where you spend your money because otherwise you spend them on wants and neglect needs (of society).

And then it turns to...

We get to spend your money on our wants and tell you they are your needs.

If only there was accountability for that...