Excellent Hossein.

We are already suffering the consequences of the disparity of income, wealth, and (because of these) opportunity. We are talking about diminishing economic mobility in the U.S.

Essentially we are wasting talent and that hurts everyone (including the billionaires). Our world competitiveness is lost which results in declining prosperity (and also possibly security).

But perhaps more importantly, the social ramifications are enormously destructive. When people feel blocked from opportunities (as you say people feel that they are not getting a fair shake) they too easily seek refuge in popularism, protectionism, and "all are out to get them". A terrible lack of trust takes hold. This was tragically apparent in our response to COVID where the U.S. in comparison with Australia (a nation of similar demographics) had 10 times the death rate. Both New Zealand and Australia had a social cohesiveness to much better handle restrictions, masks and vaccines

Reforming taxes are a part of the solution but it alone may not get us there. Also, It's what people (and companies) actually pay as the tax rate can be deceiving. And as you point out we can't get an agreement on the IRS to be adequately funded to collect the tax.

I think the argument for a base income becomes increasingly strong. Of getting money directly into people's pockets to spend how they wish. Enough would choose health, housing, education and generally improving their lives to make the whole thing work. It would also be liberating for our proven engines of prosperity -- innovation, automation, international trade and immigration.

Many thanks. Always most valuable.