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.
Because the people with the money also control the physical goods, how are you going to acquire food and shelter without money? and then while you may accept small amounts of bartering you will need some amount of money to continue purchasing food and shelter