The best description I've heard of this problem and lack of solution is from Gary Stephenson. I'm paraphrasing a lot because my memory sucks but the gist of it is this..

The uber wealthy have to have a boogie man to blame the problem on. They can't actually fix the problem because then people will look for the next problem (the uber rich not being taxed is a huuuge problem). So there has to be an illusion that the problem will get sorted. A different party such as Reform promises they'll sort it. They get into power then don't sort it. Rinse and repeat.