Those 80 million will foot the bill by paying a percentage of their income WITH NO CAPS.
You have the math wrong. There are 180M tax returns (more or less) filed per year in the US. So, that’s 180/5 = 37M per quintile.
Roughly, the lower two quintiles cannot expect to pay enough taxes to cover their fair share, probably a little less. So, it’s more like a 65/35% split; 65% will be expected to pay more than they do today (and in many cases, FAR more than they do today, depending on your age group) to cover the 35% who cannot.
No voting power there.
It will be the price to be an American.
Enforced poverty is too high a price. But before that happens, capital leaves the country anyway, so the upper quintile will have their cake and eat it too. Anyone with half a brain knows where to invest their money where the government can’t find it, and if they believe they are being taxed unfairly, they will.