Concentration of wealth

I saw an interesting article that said that the concentration of wealth is in the fewest hands since the 1930's - right before the great depression. It would appear that economically, this is bad for any country to have wealth so concentrated in so few people. If there were a billion dollars spread around so that 1 person had 900,000,000 dollars and the other million each had $100 dollars, the people one million people with the $100 would spend theirs quickly requiring $100,000,000 of goods and services. The rich guy would be unlikely to contribute significantly because he doesn't have to. Imagine that the billion dollars was spread more evenly so that everyone got $1,000 instead? People would spend more requiring more goods and services and they'd likely spend their $1000. That spending could create more jobs and more demands for goods and services.

Which leads to the idea that excessive wealth in society does not contribute to economic well being. People who are not wealthy probably spend just about all they earn so much of their money cycles through the economy over again. Wealthy people spend very little as a percentage of their income. There is no significant contribution to the economy in providing jobs.

I'm not suggesting everyone make the same amount of money. I do think that people are entitled to make money, but the government gets to tax it. The inheritance tax is another good thing that recycles money back into the economy for the good of the country. Middle class don't pay - just the very wealthy - and they only pay a portion of their estate. Tax Wall Street transactions, excessive CEO pay and carbon - all the things that we want less of.