I'd say a return to a 90% tax on top earners, whilst lowering taxes on everyone else, would be a great thing to do.
Those 90% taxes were effective throughout the 40s, 50s, and 60s... usually the time period that republicans point to as being the "height of the American dream" and the halcyon days they yearn to return to.
Obviously the 90% tax on top earners didn't "stifle business" back then. Probably because the notion of trickle down economics is and always has been horseshit.
Of course, any such legislation would need to be extremely robust and be concurrent with a massive inquisition into tax law to crush and otherwise remove loopholes.