Why would burning some marginal percentage of the very wealthiest individuals' money make everyone worse off? Seems like it would just put a slight damper on the inflation rate of country estates and enormous yachts.

(Heck, for all intents and purposes given the high marginal tax rates in many countries and the enormous amounts of waste that those governments are guilty of we're already doing just that, and the last 80ish years of human history have been pretty darn good!)