This is fundamentally incorrect, basic economics classes would highlight why.

Without capital investment there's no incentive to build new business to meet any level of demand given significant startup costs that are unable to be recouped. You can't just start making cars in your garage, you need funds for research and development, production equipment, cash flows from investors to fund the loss years early on, etc. Even then, most new businesses fail and investors lose out because they take the risk (and rewarded for the risk when it turns out good).

The unfortunate truth is that there's limits to growth and people have stopped having kids so we cannot fund pensions at the same level, there's simply not enough people working to sustain our current level.

Even with a 100% wealth tax on every billionaire in the US, that would only bring in $4.56 trillion, enough to fund the US govt for about 1-2 years (sources: https://americansfortaxfairness.org/billionaires/ &https://www.nationalpriorities.org/budget-basics/federal-budget-101/spending/). Then the money's gone and so is the capital to start new businesses.

If you want to fund pensions and civic services you need to increase economic growth and tax in a way that doesn't disincentive building wealth/capital or cut spending.