If you only taxed him $7.5 million a year, after his second year he would have $40 million in assets. That is not fair to the retired players that can't earn any more after being knocked down to $20 million.
What if he spent the $20 mil each year on lavish parties?
I guess that is the idea. That is what the Fed is doing by devaluing the currency. Use it or lose it. They want you to spend it to make the economy move & create jobs.
It is a forced high speed trickle down economics.
Investing, saving / hoarding is unacceptable. Nearly all private sector investing would be eliminated. Government would be the only investor & would eventually own all assets.