If all the money ends up in hands of billionaires and their corporations and there will be no money in hands of regular plebs…
Who do you think will have to pay the taxes?
Also, the people would figure out a different way of trading or currency. And with that one getting taxed, all the billionaire’s money become worthless.
That’s the subject of the chapter on the anarchist FAQ I was reading last week. Goes something like this: governments exist to serve the billionaires. When governments do something meaningful to other people it is a tug of war to reach a compromise, always with the goal of preserving the status quo.