You see, the reason you pay so much money on your tax income, is _because_ we are not or only barely taxing wealth income. Cfr. Piketty, governments balance sheets would stay the same (on a global scale) if you would drop the income tax on labour by 10-20% and simultaneously tax income from wealth as income from labour. (Ignoring secondary effects on that balance sheet)

One tenth of the taxes you pay on your labour, is covering for someone not paying the tax on their wealth income. While it is not world-changing, that's not an insubstantial either. Unless you are currently making more by wealth income than labour income, you would see your total taxes decrease in this operation.

And all of what I write above is ignoring the idea that it might be more moral to tax wealth income higher than labour income! The above is purely asking for both to be taxed equally.