/sci/ - Science & Math

Could any economic know-hows provide insight on what the consequences of a hard cap on individual wealth would be? That is, all money earned beyond X dollars by a single person goes to the government. My retard "friend" genuinely believes in doing this for billionaires. Some of my points are:
>More incentive to evade taxes and offshore shit
>Discourages rich individuals from continuing their efforts beyond the threshold
>Gives government more control and we all know how stupid the common voice can be
>Is just a retarded idea in general, have you heard of raising taxes instead of an arbitrary limit
And he wants to give spend it all on welfare since "Jeff Bezos dick rockets are a waste of money when people are starving". Billionaires bad because they are billionaires. I'm not going to even get into that, but what argument can I make that is so fundamentally strong that not even a low IQ communist can deny it?