To answer your question: Yes, we should. However, we should never believe that we "need" their money to spend on the public purpose because we don't.

The general voting public has been hoodwinked into assuming that the wealthy and their corporations are the "source" of our money, which is totally false. With this assumption being acted upon by Congress it becomes imperative that we allow extreme wealth if we expect it to "fund" our government and its future programs via taxation.

Even a mediocre high school math student could point to several problems with this.

The monopoly issuer of a sovereign fiat currency never needs its own currency back to enable its spending. It can always afford anything that is for sale and priced in the currency it creates at will. It never "has" money even if it taxed at 100%, but has the ability to create an infinite amount of it to spend on the public purpose. There is no "infinite+1" that would make it more able to spend by collecting or borrowing currency it has already created.

We need our Congress to wake up to this new (since 1934) reality and use its power of the purse to fund a more equitable economy as it is mandated to in Article 1: Section 8 of our Constitution. Doing so will make the wealthy irrelevant to the public purpose and that will set them up to pay considerably more than they would if their tax payments were necessary to our government's funding.