You need to go one step further and outline where and how the federal government should put this new tax revenue to work.
How much should we raise taxes? Which brackets? What form of wealth do we tax? Why taxation rather than issuing bonds?
What percent of gov revenue should we allocate to the DoD? How much to Social Security and Medicare? How much to public schools? Do we continue to subsidize higher education? Will this leave us weak to the threat of foreign attack? Will we have enough left to pay for the increasing number of elderly and obese?
A bad government with no plan, no cohesion, and no foresight will destroy value as the increased tax pool is simply drained out by cronyism, bureaucracy, lobbying, and dead-end projects. The money might be better left to a benevolent dictator, or to the private sector in the hopes of it "trickling down".
It's easy to say "raise taxes". It's hard to say where the new revenue should be invested, by whom, and how.