@joeo10 It's called an income tax for a reason as they only tax your income, not your wealth.
You can be fairly wealthy and have little to no income. And yes, there are a LOT of games that can be played legally to reduce your income (on paper at least) to little or nothing. People and companies use these rules to their advantage every single day.
Is it fair? Not really. But guess who writes the rules? Don't blame the player here.