The truth of income inequality is that it changes not by making the rich poorer, but by increasing the wealth of those who create wealth.
That is, beyond a certain degree of wealth, all wealth is tied up in investments. But there is a choice of investments: either to what amounts to rigged gambling games, that create no wealth except for investors; or to investing in things that create wealth, such as R&D and new businesses.
So the idea is not to increase taxes on the rich, but to increase taxes on the gambling games, not on the wealth creating investments. Create incentives in taxation for the wealthy to get wealthier by helping others to get wealthier.
The problem, however, lies with leftists. They so hate the wealthy that they want to *hurt* them, and not just financially, but physically, if they could. This matters more to them than tax revenues for government, or even income inequality.
As long as such irrational people are in charge, there will be no common sense approach to helping people to help themselves.
In many ways, they are like the approach Palestinians take to Israelis. They do not care if the Israelis are kind and generous to a fault, and even provide them with water and power and food. They have blood in their eyes, and want to hurt and kill Israelis, and they don’t care who is hurt in the process.
Precisely.
And this is why, in the great realignment, there will be many vulgar plutocrats whose fortunes disappear. Because, seriously, what have Mark Zuckerberg and Warren Buffet done to improve anyone's standard of living?
Much of the "wealth" the Left wants to tax at the "top" today is fake. It is widely acknowledged among economists that sequestering of the excess liquidity is one of the major reasons why Bernankeism has not yet resulted in spiraling inflation. So the obvious problem is that if we force such largess into the pockets of people who are likely to spend it, releasing it into the real economy, its worthlessness will become immediately apparent.