Unfortunately wealth hoarding puts power and influence in the hands of the few, effectively creating a new aristocracy.

That's why we don't get legislation to fix the issues you cite year after year.

Wealth hording leads to the government working more for the wealthy instead of the working class.

There will always be wealthy and powerful people, but as Spock would say (sorry) "the needs of the many outweigh the needs of the few or the one."