You can see how Islam addresses this issue in a very pragmatic and moderate manner. People are heavily encouraged to work and generate wealth, at the same time,

You can see how Islam addresses this issue in a very pragmatic and moderate manner. People are heavily encouraged to work and generate wealth, at the same time, it acknowledges that there will be a poorer segment of the population due to different factors (opportunity, luck, hard work, inheritance, etc.). Islam requires a form of "charity tax" called Zakat. Its proceedings goes to the poor and needy, among others (e.g. freeing slaves, wayfarers, etc.). The percentage is different based on the commodity (e.g. livestock is taxed differently from cash), but the percentage is fixed (only 2.5% in the case of cash money annually). However, and extremely importantly, it also prohibits exploitative and parasitic practices that cause very unfair advantages to some at the expense of others. Obvious things like lying and cheating (e.g. false advertising), but also very important issues of lending money with interest, selling what you don't own, selling debt for debt, etc. Most of which you'll find on Wall St. as normal behavior. Everything inside these boundaries is up for grabs. Remove these horrible practices, and things will get better almost by definition without having to start taxing people even more.