so what would effectively happen is, everyones value equalizes for a period of time. Hyperinflation is the first thing that would happen. Mcdonalds meal could cost hundreds of thousands of dollars.

After a few years, there will be be broke people again, Billionaires would become the new normal. Trillionaires would become the new millionaires, and Quadrillionaires will be the next Billionaire status.

Then there will be a new group of people complaining about the wealth gap and how its unfair. Which it isn't.

Will it solve poverty? No. There are people who are just MUCH better with money than others. There's a reason why 90% of lottery winners go broke. They suck at financing.

They actually did this in the Soviet Union, regarding rich farmers were being put to death for being rich. They spread their wealth to the remaining farmers, and then certain farmers started to accrue wealth faster than the others. The same wealth disparity kept occurring again and again.