[adverbly]

I'll have some of whatever PG is smoking here!

This might be one point of view, but if you imagine an economy where everyone is poor/living paycheck-to-paycheck, then this looks super wrong:

Everyone has $100, earns $100/month, and spends $100/month.

at 1% wealth tax, they pay $1/year.

at 20% income tax, they pay $240/year.

Those are obviously not interchangeable taxes from a government revenue perspective!