> Well, with a sufficiently progressive tax, you might choose to stop volunteering your time for what will be diminishing returns in income.

A solution that incentivizes successful people to hold themselves back from fulfilling their potential is going to make society poorer overall. If you want to redistribute wealth, you should incentivize the creation of wealth so you have enough to move around.

Ok, fair point.

But as someone already mentioned, would we want someone like Elon Musk to not work?

Just because you don’t have to work doesn’t mean you wouldn’t want to anyway - perhaps money is not the only motivation for working when your basic needs are met.

But this theoretical Elon Musk would need to raise capital, correct? Would people who provide the capital still be taxed so much they don't find it worthwhile?

If not, you've just created a class who is going to be making a ton more money than anyone else.