The wealth gap is so big and destructive that the extra tax revenue would only serve to make the 99.9% feel better on the same sinking ship.
The big question really is, why are we even being taxed if govts can raise infinite funds through bonds.
Discussion
yes, this is a Q. that lies at the heart of MMT really - but taxes, of course, play a political role as well as a fiscal one
Interesting read. If only govts could overcome the inefficiency of the tax redistribution mechanism.