If all the money ends up in hands of billionaires and their corporations and there will be no money in hands of regular plebs…
Who do you think will have to pay the taxes?
Also, the people would figure out a different way of trading or currency. And with that one getting taxed, all the billionaire’s money become worthless.
I would imagine at some point government will start becoming creative to tax the billionaires or the corporations. Though the masses becomes entertainment for the billionaires to keep money valuable else like you said if they all have the money then it’s worthless. The government by this point would be so weak since rampant corruption would be so ingrained that any idea of taxing the billionaires would be incredibly hard to pass. So I think what likely will happen is a societal collapse. If this were to happen globally end of our current civilization.
Uhmm … the billionaires ARE the government right now. They are engaging in fraud and crime right out in the open.
They are getting into government because they know government must stop them.