Actually it's not too crazy as the top 1% own about 20% of the total wealth

> The wealthiest 1% of households hold about 20% of household wealth, the top 5% of hold approximately 40%, and the top 10% hold over 50% of wealth

https://ifs.org.uk/articles/distribution-household-wealth-uk

If you don't tax them they just amass more and more money without contributing more, if anything their wealth is due to the work of the bottom xx% of society that work for these ultra rich families

That only income tax, not all tax: https://fullfact.org/economy/do-top-1-earners-pay-28-tax-bur...

But yes I do think it's fair for the very richest to pay more tax, and I say that as someone who is a high earner who wants to see more equality.

Do you think inequality should increase or decrease?

If we keep current spending the same. We could reduce the % the top 1% bare by reducing inequality and by having the 99% earning and paying more tax.

Or we could reduce taxes for the 1% and reduce spending which would likely increase inequality.

Yes, because they are gaining more than rhe average share from the stability that a welfare state and legal system provides. If they want a lower tax rate they should move to a jurisdiction without expensive public services underpinning their success.

If that 1% has >=28% of the wealth, then yes absolutely

Is it only about fairness though? In US (don't know about UK) the top 1% held 32% of wealth last year. Is that fair?

Seems fair enough. They earn 14% of the income of the UK, and don't need marginal pounds nearly as much as people at the bottom end of the scale who need marginal pounds just to be fed and housed. They also pay lower percentages of their income on non-income taxes than most other British cohorts

I don't think it's fair that 1% are hoarding 20% of wealth