1% tax on all registered securities, payable in shares of those securities. The SEC just confiscates 1% of every position, and conveys them to an IRS liquidator. The liquidator sells them off in small lots over time, comprising no more than 1% of total traded shares. Securities with negative values are returned.
Once completely phased in, natural persons will be exempt on their first $10 million in registered securities. Corporate-owned securities will not be exempt: the are taxed from their first share.
We tax only the problematic portion of their wealth: their wealth-generating assets. We auction those assets off to the general public.
Because it is not cost effective. Simple as that.
The problem is that we don't have enough demand shaping to shift night time loads to day time, and we don't have enough storage to shift production to overnight. The result is that daytime generation is regularly going into negative rates (you have to pay to put power on the grid, which melts the returns on your investment into solar.
As far as problems go, it's a good one to have, as it will eventually result in lower prices for daytime generation.