Or he could his money in a bank, where it would be lent to new business, used to build houses, etc. Or in a new business as stock, or venture capital. Capitalism - what a great idea !
He seems to think government bureaucrats will do a better job investing the money after they take it from him. Which in itself creates an incentive not to earn more money.
"Paying up" in hopes that prosperity will trickle down has proven to not work very well.