Some good points here, but your Ayn Rand-esqe take on wealth is way off.

If, as you say, that "more money more wealth" is a myth, then we could return to a 70+% highest marginal tax rate (as in the 1936-1980), and return a to a 70+% estate tax (as from 1935-1982), and add a weath tax of 2%/year on wealth over $50 million (Elizabeth Warren's plan), return corporate tax rates to their nominal 20+% by closing loopholes (again as it was from the 1930s to the 1980s), and end the cap on Social Security payments and this would have no real effect on the wealthiest people's standard of living.

You can't have it both ways. Either raising incomes and wealth for the working and middle class makes no difference in their wealth AND reducing the incomes and wealth for the wealthy makes no difference in their wealth, or neither.

Empirically and historically, the answer is neither. Since the 1980s there has been a continued extraction of wealth from the bottom 4 quintiles in the US to the top.