Plutocracy/kleptocracy is to the 21st century what slavery was to the 19th century, and what feudalism was to the 15th - a scourge on humanity that it is up to the people of those times to eradicate.
To that end, I'd argue that higher taxes on the wealthy are a pseudo-solution and a half-measure for the actual problem of plutocracy/kleptocracy, because taxation after the fact allows people to claim excessive property rights and have society recognize and enforce those claims in the first place, to the extreme detriment of everyone.
After people have obtained excessive legally protected property rights, they can very easily fight taxation and redistribution through their control of politicians, law and the justice system, propaganda and media narratives, telecommunications networks, and natural resources from oil to broadcast spectrum.
This is actually what has happened in practice, with plutocratic institutions fighting in advance any attempts at "redistribution" by keeping the masses of people poor, disorganized, distracted, and stupid.
In the same way that slaveowners kept literacy inaccessible to their slaves in the 1800's so the institutions of slavery couldn't be challenged, plutocratic institutions are hindering the development of human intelligence on a global scale to protect/expand the institutions of unlimited property rights for the few.
Higher taxation as a solution to plutocracy/kleptocracy is like allowing slavery and dictatorships, but mandating slaves and subjects be given at least two meals a day. How humane! But it's not a real solution to the hindering of human development caused by such hegemony and the resulting subjugation of humanity.
Plutocracy/kleptocracy is a more significant issue for humanity to address than climate change, automation, and advanced AI combined. But because the range of acceptable thought and understanding have been so severely limited, actual policy solutions are not brought forward or discussed by the plutocratic-funded media or typical politicians.
The same law that can create some justice by protecting hard earned property rights becomes a tool of extreme oppression when it allows for unlimited property rights for the few.
We modified property rights in the 19th century, and it's time to do so again in the 21st.