The problem of letting any private entities get that rich is they start to take control of everything.
One such example is The East India Company having at one point a bigger private army than the British Army[0].
As things go we will soon be at that point again.
Except government revenue serves a purpose: paying for government services and salaries. What do you do with the surplus cash?
What about when someone does not have a billion dollars in cash, but has billions in assets?
Flesh this out for me please.
Except the politicians will take that extra tax money and use it to bail out banks and wall street and spend it on shit that no one needs and impose policies that no one cares about and continue the corruption cycle, only now with a lot more money than they had before. We should trust the government a lot less, not more, with our hard earned dollars.
Greed is part of the human nature, and people in the government are no exception.