I don't agree with this at all. I don't think we have a talent shortage. You are correct that this would reduce incentives for the rich (although would it really be by that much - they would still have a huge incentive to maintain a high wealth level than a lower one).

But if the capital were sensibly redistributed (I advocate for spending some on things like univeral healthcare, and then directly sharing the rest out) it would also enable a vast group of people to take entrepreneurial risks that are not in a position to do so now.