Confiscating the entire wealth of the wealthiest and then redistributing it to the poorest would only be a one time benefit of a few thousand dollars per person,which would then quickly be consumed and lost forever.Meanwhile the motive and means of producing even more wealth would be lost forever.
If you transferred all the money from the rich to the poor, the money would all wind up back in the hands of the rich within a year.
The Bolsheviks solved that little problem, they just shot the rich.