The concept behind sin taxes was to tax what you don't like more than what you do like. Modern governments apparently hate jobs and earned income the most.
I'd suggest reversing it and taxing capital gains at the full rate and income tax at half. This is how it's done in Switzerland I believe, if you want a case study. They seem like they're doing okay.
Paying someone for their labor is a taxable transaction. Selling an asset at an appreciated value is a taxable transaction. Transferring wealth to descendants after death is a taxable transaction. 'Already taxed' money is not a thing.
Consumption taxes are about as efficient as taxes get, especially when you can exempt specific products (and increase taxation on extreme luxuries).