It can’t. Social security is done by the Feds.

It’s against the constitution to tax wealth. The second someone tried to pass that, it would be struck down by scotus.

At most a state could do it and they’d lose the billionaires.

To do this they’d have a pass an amendment and there is zero chance they’ll happen.

And when have democrats radically raised taxes? Trump was the last one to screw with high income tax earners with the salt limit

https://www.ntu.org/foundation/detail/is-a-wealth-tax-constitutional