Utopian ideas such as that are predestined to failure because human nature doesn't work the way you think it does.
You can raise taxes as much as you want. The wealthy don't care. Why should they? They can just leave. Look at the UK. They tax the bejesus out of people. Now count how many wealthy UK entertainers (selected for having acquired new wealth, as opposed to old family money that's more or less tied to the land) emigrate after they score.
So who's going to fund your basic stipend after you tax away the wealthy and the corporate taxpayer?