This plan should not fly until everyone working, is also paying taxes at the same rate as the “rich”. No class warfare allowed, everyone has skin in the game, it is the only way.
Spending is allowed up to and including the last farthing of tax revenue that is projected to be sent to DC. Not one cent further, and tax money does not go directly to DC from any citizen. The States act as a filter as they should.
IOW they pay their own way first with money earned in the state, not waiting interminably for it to return with strings attached and borrowed from who knows where at the whim of the all too generous federal leviathan.
Class warfare can be capped by say Constitutionally requiring all income tax above 30% be used to pay down the existing debt (and that refinanced).
What I suggest is three tax levels, 12% [FICA+Medicare+~4%] on all income be used for Social Security, Medicare and (~4% for)food/housing/disability aid. This 12% to be paid by all.
A top-up tax above $25,000/year to finance government as is envisioned in the Constitution [defense, roads, maritime rescue, federal courts/prisons, FBI, etc].
An existing debt pay-off tax on income above $100,000/year.
Flat taxation is not currently possible because zoning and illegal immigration has made housing too expensive and government regulation and patents (that don’t require medical product individual affordability) have made health care too expensive.
The poor simply can’t pay the same tax rates as the middle class and high-income doctors, dentists, lawyers, executives, investors, large licensed contractors and athletes.