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Your policy specifically encourages people not to have wealth in the US.
It's not like nobody tried this. François Miterrand famously did in 1981 and pretty much destroyed French industry. With disastrous enough consequences he had to reverse course.
People will move investment away from the US if you do this. All that nice Silicon Valley startup nursery environment will not remain. They will go elsewhere. And if you successfully suffocate your ability to innovate, you'll slowly bleed out like Europe is bleeding out right now.
Fairness doesn't enter into it. It just doesn't actually work unless you're willing to back your words with arbitrary arrests like the Chinese do. And it's unsustainable in the long term because it destroys your mechanism for innovation. Which is where the neoliberal is of any relevance.
I don't really care that there is or isn't high inequality, I care that my society survives and thrives. Eating the rich doesn't actually do any of that.
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