what you're saying in short is that the US economy has changed from Manufacture-based to Service-based, just like China.

People don't realize this but China is moving toward Service-based, naturally, as they raised their standard of living, thus education.

What's missing is not raising tax on Income but taxing Wealth: the super rich has their wealth sitting and growing unproductively (house appreciating is not productive, buying farm lands and rent it to other farmer isn't productive). Holding Limited version of a Ferrari isn't productive. Feel free to find other Assets.

Once the super rich completed their journey in this world, they will inherit billions to their kids, whose productivity output does not match the wealth they inherited, again, not productive.

Tax their Wealth.