I question it mainly because I don't believe that is a solution to current perceived woes in society, in this case poverty.
Provincial taxes (with a few exceptions) will fund the Province (i.e. currency user), but the Federal level doesn't need to do that. Its motive is different, more behavioural, not financial.
If the gov't doesn't know how to spend the taxes in the first place to benefit the masses, how do you think they'll do with more of it? They need more ideas to develop capital, both human and physical, not more money. The US needs more doctors (2.1 per 1000 in 2002, 52nd in the world), not insurance, to use the healthcare analogy. Do you see what I am getting at?
Punitive financial action is not enough. It needs a synergistic outlet, not just handouts. It needs a reason which I still haven't seen from your train of thought, quite yet. That's not to say you don't have one.
So in answer to your last question, I would rather it remain as is instead of a knee-jerk, blanket attack on wealth. There are more reasonable avenues to achieve the broader societal ascendance you seek, I suspect.