Taxing the rich isn't going to lower our cost of living, the changes needed are far more systemic. Taxes don't decide whether the government can afford to do something outside of the local level. To solve that problem, you need to remove them from power and ensure they cannot take it back.

If you want a quick bandage for the problem without addressing that last point, you're better off implementing fixed, affordable prices for necessities such as food, housing, utilities, healthcare, etc. so they can't be used to price gouge.

This is obviously not sufficient by itself to address all of the problems and it's almost certain it would never be widely implemented by the government of a liberal democracy. Cutting into corporate profits is unacceptable.

Until people realize that they must forcibly take back the power to define how their countries are run (not necessarily violently, but let's be honest, those in power don't even respond to peaceful protests without violence) and then begin to take actions that actually weaken those in charge, we will continue to live under their thumb and suffer the treatment they deem most beneficial to themselves.

One step that can be taken to weaken them is to organize your community to create alternatives to the institutional programs they expect you to rely upon. Develop programs similar to the breakfast programs of the Black Panthers. Organize your workplaces and local communities into workplace unions (not business unions!) and tenant unions organized, run, and composed of the members who will be covered. Force them to negotiate with you and be ruthless at the negotiation table.

Show the people that they DO have power and from there you can begin to build a movement to take it back.