Taxing wealth excessively probably isn’t going to tackle the root of inequality and poverty, incomes should be the focus of policies attempting to minimize the gap between the wealthy and poor.
Whatever wealth we do tax should be used to improve early education and technology; equip more people with better skills and help build up industries that will better put these skills to use. Although it isn’t the government’s jobs to carve out industries to create jobs for those with jobs that don’t pay well, there could potentially be a large market in technologically advanced industries that have yet to flourish, and could be put to use by those with a superior education.
Also, increasing welfare spending isn’t going to yield massive benefits, at least in the US, more government money has been put into welfare without significant decrease in the number of the impoverished after a certain point.
So overall, I’d say education and efficiency to improve incomes are among the more optimal ways to deal with growing inequality.