Rather than get distracted with the wealth re-distribution mechanics, I think it’s maybe more relevant to instead look at the underlying societal value systems in terms of what societies value and reward in terms of individual behaviour, and how that reward system shapes the attitudes of the people.
In America, Greed is good, laziness is lauded and honest hard work is looked down upon. That’s a toxic combination where people are now trained to think that hyper-concentrate of wealth is desirable and that doing hard honest work is for losers. I mean, this mindset is so prevalent that it’s even being normalised by children in games where people who grind to progress are demeaned as ‘sweats’ and the community have been trained to worship pay-to-win-whales who pay real money for overwhelming advantages in game and cheating is endemic. If that’s the attitude towards leisure, it’s not hard to see how bad it can be in the corporate world.
The way I see it is that the west never really got rid of its aristocracy and it’s functionally still largely a medieval society where the blueblood ‘betters’ rules over the commoners. Some concessions have been made to allow a select few upwards mobility to join the monied ruling elite, which is how the west maintains its social order. The commoners don’t rage and fight against this inherently unjust system because they have been bribed by the illusion of hope that it could be them that gets selected to be elevated. So rather than try to change the system to be fairer to the overwhelming majority, everyone dreams about climbing to the top to lord over and shit on everyone else below them. There are many such routes, either literal lotteries or self-made, but the overwhelming majority of such lucky tickets can be obtained by getting into one of the top 0.1% paying elite jobs.
In the past, the problem was mainly on the corporate side where the big money was in Wall Street, which is where many of the top engineers and scientists ended up instead of in those technical fields that they trained in and demonstrated great talent in. But you still have all that raw talent coming through your educational pipeline, so in theory it was a relatively easy and achievable fix by changing the job market rewards structure.
Today and in the future, that problem is going to be confounded by the broader societal corruption where the top jobs children aspire to when they grow up in the west are now Streamers/Online content creators. With the hostile environment the west is creating for foreigners, especially Chinese and other coloureds, you are going to have a double whammy impact of a drying up of foreign talent import at the same time as your own domestic talent would rather stream themselves playing games and doing lewd acts for their OnlyFans pages than actually study to even get into university to start with.
This broader societal corruption is the true nation killer, because of how impossibly hard it would be to get the whole society to collectively take the pain necessary to fundamentally change course. Historically, such wholesale societal perversion have only been corrected by either revolution or foreign invasion, or a combination of both. No system that got itself into such deep shit have ever managed to successfully dig itself out of it again. America might think it can be the first, but the odds are very much not in their favour.