Shouldnt the government just take 100% of peoples pay and then give back only what you really need?

that way it would ensure people wouldnt frivolous spend their money on things like risky stocks or the housing market which triggered the economic crisis. and it would ensure that the rich are taxed fairly, so that the poor would always have access to food, healthcare, shelter, entertainment, the necessities of life, etc. the only reason anyone would be against this idea is if you are one of the mega rich who exploit others to become richer.