Income inequality is a big problem but this would be the only remedy I wouldn't like. Maybe do a percentage that excludes earnings beyond 500k
Should we want businesses that need public money to continue to operate? I suppose one should critically examine their usefulness. If they fail 0% income tax on salary would be good enough.
OT: It struck me a while back what work was involved in running a government using only paper. I guess they all found ways to burn the excessive funds over the years as the real work kinda vanished. I hear Estonia made an effort to write laws that are easy to automate simply because they didn't have money.
https://taxfoundation.org/research/all/federal/earned-income...