I disagree, but what do you suppose people do then? I'm afraid it's unrealistic to expect a society to collectively agree on donating to charity any excess money originally intended for helping their offspring.
I expect society to severely tax and regulate wealth, and also the most harmful methods that the wealthy use to game meritocracy. Eg. for private education - tax the hell out of it, legislate that each next stage somewhat accounts for the last one being rigged (eg. colleges forced to push down people from expensive schools) and seek to promote meritocratic alternatives (eg. online education).
If there's one thing there needs to exist non-government alternatives to it's education. The government shouldn't get a near monopoly on telling the youth what to think. FWIW your median "private school" is usually church run, not some elite prep school CEOs send their kids to.
Church-run schools that exist to indoctrinate children into religious beliefs and refuse to teach basic science in favor of their doctrine should absolutely pay for the externality of the rest of us having to interact with those children later in life.
Government-run schools that exist to indoctrinate children into nationalist beliefs and refuse to discipline children who make school unpleasant and poor learning environments should be shut down.
Lol. Discipline that would expose a likely financially-struggling teacher or school to an overtly litigious public? I forgot it was the schools' responsibility to raise our kids.
The easiest thing would be to increase progressive tax brackets (why does it stop at 600k?), raise taxes on inheritance over $10 million, establish new multiple payroll taxes to help SSA (why do the brackets stop at 500k?).
The rich are destroying the earth through greed and society by destroying the middle class.
They had their fun, it's time for 99% of other people to enjoy the government.
It's called "government" and "progressive taxation" and "labor laws" and not only does this coordination as a society level reduce inequality, it also increases GDP over time as everyone benefits from investments in the commons.