Fairer option, that would hit just as hard: Repeal section 501(c). Eliminate the concept of tax-free "non-profits". Have the "Bill and Melinda Gates Foundation", the "Ford Foundation", (and all the rest of the non-profits that the super-rich use to shield their money) pay taxes on the income from their investments. Have Harvard and the rest pay taxes on their endowments income.
All except the Clinton Global Foundation. They are legit!