Another problem with confiscation and redistribution is that it depletes the supply of capital available for investment in new and existing ventures and thereby makes such ventures (and the jobs they create) less likely. In short, capitalism requires capital.
Money is a tool.
If you take the tool away from people who know how to use it and give that tool to people who do not, less is produced with that tool. When less is produced, you have less wealth.
Redistributing wealth reduces the overall wealth of a nation. The more you do it and the longer you do it the poorer the nation becomes.
Its as simple as that.