Taxing the money that moves - as it is earned - will only produce so much revenue. The rich need to be taxed, not beccause it will allow lots of lovely spending, because the gov will inevitably do a bad job of spending it. Though you could put it towards debt reduction first.

You have to tax the money that doesn't move. The millions of unneeded unspent $ that the rich are sitting on, with a wealth tax. You may not even make the poor richer, but you will make the rich poorer. Good.