I'm not going to get dragged into creating a new government framework with you. I'll leave that to the political scientists. What I'm saying is that we need limits on power. Limits on income existed before 1980 and were dismantled in Regan's trickle-down economic policy. Taxes used to be really high for the ultra rich after WWII to around the late 1970s. Limits existed in other forms too like anti monopoly laws, more regulation and market oversight. What I'm suggesting is simply taking those that once existed and codifying those things into a charter, like the Magna Carta did for kings, so that they can't be repealed by changing governments. It's an idea, not naive at all.

Greater equality is essential for well functioning societies and well functioning economies. It's good for everyone, even the ultra rich... they just forgot it. Read Ray Dalio's The Changing World Order and he explains this quite well. The man is a billionaire himself, and he advocates for a redistribution of wealth and greater economic equality. His research echos much of what is tough in history: inequality always breads social unrest and political upheaval. It's what revolutions are made from.