The solution I'm advocating (until somebody can prove that I have my head up my ass on the topic) is increasing moments where an asset becomes cash before it is transferred.

For example, borrow, spend, die is effectively a financial instrument to cash conversion.

Inheritance: Get rid of the inheritance taxes and treat it as cash for tax purposes and have the estate pay the tax.

Make stock buybacks illegal.

I can see there would be an advantage to storing the income averaging part of the tax code so that if someone like us mortals gets a big windfall (inheritance, IPO grant), you can spread the income out over time.