You’ve nailed it. We used to keep ne’er-do-wells from having influence over public decision making by requiring one be a landowner to exercise the franchise. Today, ability to fog a mirror and (perhaps) be a citizen is all that is required, and it doesn’t look like that is going to end well. What you propose is the rational solution.
I don’t have much hope we will move to it without a lot of pain.
I’m not saying that poor people shouldn’t vote, either. I think everybody should pay something in taxes. I think we should really look at who is collecting disability instead of working, as well.