If your title is “Don’t go after the rich”, I’m not reading your fucking article.

So, the same tired, weak arguments the rich have used to avoid paying for their fair share for decades?

redistributes wealth from minority to majority

political power is concentrated to an even smaller group.

Sense you don't make.

Ok, then let's not "tax" them. Let's just confiscate 100% of their assets and throw them into a wood chipper. Would that be morally acceptable to you? I mean the power isn't concentrated in that person anymore.

Personally I'm a fan of this method.

The Economist is based in the UK, so they know with absolute certainty that the rich most definitelly do not "pay for everything" since in that country, much more than most, the industry for Tax Avoidance and Evasion is MASSIVE, using British Crown dependencies (like the Channel Islands and the Bahamas) and even supported by the local legislation (such as their very special Non-Resident Tax Scheme which actually applies to people resident in the UK), all of which expensive enough that they're only worth using for people who make millions per-year.

The idea that a British-based magazine specialized in Finance and Economics are unfamiliar with the kind of schemes used by the likes of the Duke Of Westminster to avoid paying any tax at all and instead think the rich pay most taxes beggars belief.

At best, the Middle and Upper-Middle Class pay for everything. De facto the rich pay less effective tax on their incomes than the lowest levels of the Working Class, some even in absolute terms (as admitted by none other than Warren Buffet when he said that "I pay less tax than my secretary").

I read The Economis for over a decade until the 2008 Crash (when I finally saw the disconnect between the ideas they claimed to defend and the actions they actually approved of, and thus stopped reading it) and I have no doubt in my mind that this is just their usual "opinion forming" mix of half-truths, cherry picked factoids and pseudo-Scientific theories knowingly built on top of lies.

 it won’t raise enough money to fix everything,

Who says that? Only one way to truly find out!

it concentrates political power in an even smaller number of people (those who are paying for everything

They already kidnap and fuck children, they kidnap other heads of State to disteact from that, they create a Gestapo...

Like how should that it even get worse?!

They're actually so used to buying any thing and any person they want that they equate being taxed with a quid pro quo of bribing politicians.