70% tax rate

A newly elected congresswomen suggests that the top tax rate for those earning more than $10 million dollars per year be raised to 70%. There are 2,000 taxpayers in that group and they currently pay $90 billion in taxes. If the rate is raised they would pay an additional $80 billion assuming they did not find any loop holes, a dubious assumption. If that $80 billion is given to the government and the government is allowed to determine how it is spent they could come up with some great programs. We could give each family on food stamps $2,000. We could give each person on social security $1,300 or the fairest is to share it with the other taxpayers and they would each receive $500. I'm for option two.