Obviously, the extremely absurd present concentration of wealth in a tiny minority is unhealthy. That minority is dependent on the majority for the nation's infrastructure, defense and the markets the majority compose. With the refusal of the minority to use their intelligence and spread out the benefits, what choices remain?
If you confiscated all the wealth, and redistributed it equally, in a matter of years, at most about 10, but likely less, the exact same situation as the present would result.
Spreading the wealth, would result in nothing different than what we have.
This is the problem with left-wing economics. It's based on faulty assumptions that somehow wealth is "static" and if we just spread it around, then everyone will have some. That's completely false.
Wealth is dynamic. Wealth is constantly being created and destroyed over and over.
The reason poor people are poor, is generally because they consume their wealth, and it is gone. The reason rich people are rich, is because they invest, save, and grow their wealth, and they have more of it.
I'll give you an example.
In Canada, Sharon Tirabassi won $10 Million, and lost it all. She lives pay check to pay check, and rides the bus to work.
Steve Jobs bought "The Graphics Group" from George Lucas for $10 Million. Renamed Pixar, he sold Pixar to Disney for $7.4 Billion.
Now, Jobs could have spent the millions on super cars, super yachts, big parties, and sex clubs and whatever. Then he would have ended up just like Sharon. 10 years later, completely broke, instead of 10 years later, $7.4 Billion rich.
If you divided up all the wealth 100% equally among all the people, the result would be that in about 10 years, the poor people would end up poor again, and the rich people would end up rich again.
Again, it's the difference between consuming and investing. It's the difference between the beer pong people and the pinball people.
When Warren Buffet was in high school, he saved up money from a paper route he was working, to buy a pinball machine. He then placed the pinball machine in a local business. There, his investment earned money.
Now what do most people do in high school? I don't know about you, but when I was in high school, the popular thing to do was to buy a keg of beer, and go to someone's home whose parents were out of town, and play beer pong all night. By morning everyone was drunk and broke. They consumed their wealth, and it was gone.
Warren Buffet isn't a billionaire because he was "lucky", or because he has the Midas touch. He's a billionaire because he's been investing since he was a child, and investments have a pay off. That's why they are investments.
Sharon Tirabassi is not poor because the evil rich held her down, or because she didn't get a Harvard education, or because "wealth is concentrated" or whatever excuse you can come up with. Sharon is poor, because she spends everything she makes. That's all there is to it.
So if you divided up all the wealth, in a matter of years, everything would end up right back where it is now.