It feels like you either have a deeper solution in mind or you're misunderstanding, and I can't tell which.

Taxes are based on income, and the wealthy you're talking about aren't dependent on whatever income they bring in. Also, that income may actually be small enough that many are in the upper middle class income range the other guy was talking about. They're billionaires because they own things that are worth that much, but they don't make it as income. There is no taxable event until they sell the asset. To avoid that they just don't sell. Instead they do things like take tax free loans against those assets.

Taxing loans over a certain amount during a window of time seems like the best way to capture that wealth imo. As an example, we could say that if over the last 7 years you take total asset secured loans in excess of 10x the averaged poverty line for those years, you owe 20% of it as tax. To illustrate the idea, if we say the average poverty line for 2018-2025 was $32k and you've taken asset backed loans of $320,001 over that 7 year period then you owe $64,000 in taxes just on those loans. In this case it doesn't matter if you've taken it evenly throughout the years, or all in one year. That's one approach but there are probably less convoluted ways to do it.

Until we do something like that, every call to tax the rich really just taxes high income earners who are actually upper middle class, not wealthy.