What about people who want to work? Their productivity increases even further, they make more money and inequity increases.
Or are you suggesting we ban working?
Or are you suggesting we ban working?
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.
But as someone already mentioned, would we want someone like Elon Musk to not work?
If not, you've just created a class who is going to be making a ton more money than anyone else.