Better still, let's not tax income or property. Since all money in the economy is eventually spent, let's simply tax consumption and fund our society that way. Everyone consumes - those that consume less will pay less tax.
That might increase the cost of some goods or services beyond the benefit provided by the removal of income tax though. Let's say you're earning 300 euros a week, and being taxed 50 of those. You're fifty euros better off, but the overall doubling or tripling of sales taxes (whatever the different in income tax versus sales tax revenues are) has likely increased your expenditure far more than that. It disproportionately targets the poor while providing huge benefits to the likes of landowners who are renting out their properties, leading to a tremendous concentration of wealth, ie a landowning aristocracy. Plus, taxing consumption retards consumption, and the economy needs consumption.