Yes. It may be communistic, but I think it would actually enhance capitalism, as there would be less need for some economic regulations. For example, campaign finance laws would not be as necessary, as it would be impossible for the super rich to control the democratic process, as there wouldn't be any super rich.
What about the people who are already super rich before the law was passed? I fear a max wage would just allow old money types to prevent any newbies from rising to their level, which is deplorable.