Fun fact: if we taxed all income over $500,000 at a 100% tax rate it wouldn’t even cover our current budget deficit, let alone allow for such a massive spending increase.
Not that they wouldn't immediately shield their income if you tried. Still, I don't see any issue with maximizing our tax revenue from the top 1% by increasing their taxes until total revenue starts to drop, though I'd also be happy just dramatically increasing inheritance taxes and eliminating tax shields since billionaires still die regularly.
Source: https://www.irs.gov/statistics/soi-tax-stats-individual-stat... (Table 1.1, row 57)