Sweden has already solved this problem. Taxes over here are high (33-35%) for low- to mid-income takers, and even higher (68% is the ceiling) for high-income takers. Naturally, people complain about the level of taxes, but the social net ensures that no-one has to be homeless or starving.

Education and health care are government-funded, too.

"Stephen Wolfram is the creator of Mathematica and is widely regarded as the most important innovator in scientific and technical computing today." - Stephen Wolfram