Research has shown that a level of wealth above that sufficient to provide
basic needs produces very little increased happiness.
On the other hand there is no doubt that grinding poverty, malnutrition and
starvation certainly do cause misery.
There can be no doubt that wealth is terribly unevenly distributed in
twenty-first century society.
Surely taking a large part of the wealth from the obscenely rich and giving
it to the poor would not necessarily make the rich less happy, but it would
certainly relieve some of the misery of the very poor.
This follows the principle of utilitarianism in ethics.
Utilitarianism has rightly been criticised because it can justify harming a
few in order to improve the lot of the many, but if great wealth does not
increase the happiness of the very wealthy then where is the harm in
reducing that wealth?