Confiscating the wealth of all U.S. billionaires (~$8 trillion) would fund federal operations for roughly 9 months...1-time only.

After that, the money is gone.

The underlying problem of high, persistent government spending remains. This isn’t primarily a “tax the rich” problem.

The goal of taxing the rich isn't to save the enormous defecit. It's to make sure they can't buy elections and undermine democracy.

It also does help to reign in some spending. Because a lot of spending is indirectly performed through subsidies. Oftentimes in the modern day for the rich who can already afford such initiatives.

Even if this were true, such a tax program would limit the outsized corrupting influence of this class. That's arguably an even greater benefit than just helping with the deficit.