You didn't mention the effect of the poor who are now richer getting more power. You didn't mention that people can gain power by being virtuous and admirable,

You didn't mention the effect of the poor who are now richer getting more power. You didn't mention that people can gain power by being virtuous and admirable, in fact damaging your own interests on purpose is a direct sign of power. Signalling is not a new concept. The overall effect is more uncertain than you suggest, but presumably it's clear that the 'giving' that is highly desired and publicly demanded by certain people can be implemented by them today. Further, I'd postulate that the desire to only give if everyone gives is a rather convenient mechanism to simultaneously not give and appear virtuous.