You have just destroyed the incentive for entrepreneurial risk. In your kooky world, I can lose billions in a year, but only earn 300k, so why would I build a transcontinental railroad? You've also destroyed the incentive to pursue an endeavor for years, or decades. Why would anyone spend decades breeding a new variety of corn that can feed the world's hungry if when I comes to market I can only get 300k per year, or an average of 15k per year for the 20 years of my labor I invested? If I write a screenplay and the highest bidding film studio wants to pay 10 million dollars for it, whom do you propose should get my 9.7 million dollars? You think I should be taxed at a rate of 97%? Maybe I have a short expected career. Maybe my IQ is 85, and I am barely literate, so I have low earning potential, but I can run a 4.0 40. So the NFL will pay me a million bucks per year, but only for 4 years. Limiting my earnings to 300k per year, or 1.2 million for a lifetime, you have made sure I can't aquire capital for a Business, or investments, or retirement, or sending my kids to college or having a safety net against an ALS diagnosis. You've destroyed my freedom to make my own choices and made me an infantile subordinate of a paternal government because you think you know better for me what's good for me. If my priorities don't match yours, you think I'm out of touch with reality.