The problem is this money goes through an incompetent government that can't even build a train anymore. Maybe 30 years ago the story would be different but that's why more taxes is never a good idea. The functioning governments will always decay into incompetence and if they have billions of dollars more to waste, they will.

People incorrectly think this is defending billionaires, but it's actually them defending government. We really should rethink how this wealth flows down, and it should be a more direct line. Maybe instead of a tax it's some kind of obligation to fund non-profit orgs of their choosing.