Another (absurd) option, we could cut all discretionary spending in half. So, 1/2 size military, 1/2 size departments of state, health, homeland security, veterans affairs, education and the rest. This might be kinda workable, but we'd probably lose military control in the middle east, which is essentially access to all that oil. i think it'd be tough to enforce copyright without heavy state department involvement, which would risk a bunch of wealth.
I think the 1% get outsized returns from the stability of the government. If you can pick a set of departments to simply eliminate i'd love to see the set, and why it wouldn't risk current wealth. There are a few i'd be sad to see go, but you could probably eliminate education, energy (no more nukes though), nasa, interior, hud, and agriculture. that gets you fairly close to 200 billion, with about 400 billion more to go. those are risky, but probably survivable.
i dunno. I fundamentally disagree, the more you have the more you benefit from the status quo.