There aren't enough rich people to fund the government at the levels it spends.
https://www.federalreserve.gov/releases/z1/dataviz/dfa/distr...
the top 0.1% hold $22.14 trillion and the top 1% hold $54 trillion.
The total federal debt is around $35 trillion. So for sure the top 1% could pay off the debt in order to have a reset at least.
I'm not saying it should be done, but it does not seem impossible.