The reason why some of us have more money than average is only because we want to give our children a better life and benefit from it.
If I was in charge I'd abolish inheritance completely and have property going back to local authorities by default
In that case, I would be quitting my job right now, sell our family home and embark on a world wide cruise with my family to make the most of our cash whilst we have it.
We are extremely lucky to be in a society where you can reach pretty much any level if you really want it. Yes some people have a better start, but there are enough examples of very high level success to prove that race, colour, family background don't stop you.
The only thing that is outdated is our lovely royal family, who in my opinion has no value in our society whatsoever, and confuse the state money and their private money, but that's another issue.
If you remove all incentive and rewards, why should people bother? Why should you give something for nothing to someone who hasn't done anything to deserve it? I think it's for the best if people can work hard to give something to their children. Otherwise, frankly, who would bother.
The ones around me earning fairly indecent salaries are also the ones bringing the most money to the business, with all the high level stress and hard work or luck that it involves. Everybody benefits.