We live in a society. People have responsibilities towards the common good. What is the common human existential practical good? It is universal access to food, education, healthcare, shelter and mental gratification through entertainment. These common good today have become the luxury of the social elites ruling the masses. We have few people controlling all sources of productions and goods. The rest are serving these few people. Now nothing wrong with that because possibly not everyone can have access to sources of productions and goods. Rather the problem is when these few think their ownership gives them the right to do away whatever they like with their wealth without the responsibility towards the society which contributed to their success. The system which allows their luxury and hoarding must be dismantled.
God says in Quran 59:7 “….so that it (wealth) will not be a perpetual distribution among the rich from among you.”And in Quran 9:34 “…They who hoard up gold and silver and spend it not in the way of Allah, unto them give tidings (O Muhammad) of a painful doom…”
And in Quran 4:37 “…Who are stingy and enjoin upon [other] people stinginess and conceal what Allah has given them of His bounty - and We have prepared for the disbelievers a humiliating punishment -”
These verses prohibit any system/entity which encourages and allows hoarding, miserliness and greed. Capitalism is the true issue that these verses dismantle and reject. Neither only paying Zakat will absolve the misers. Imagine you pay Zakat but then one day a needy comes to you for life saving medication and no one but you have the ability, will rejecting him in the excuse of only paying zakat absolve you?!!!! Such is the case of the broken needy society with the elites ruling it.
This vile greedy capitalism must be substituted with humane capitalism. Capitalism must not longer mean as an economic system that rewards individual greed presenting all people the same opportunity to become wealthy. The latter part is a theory only while the former part the reality. In truth this modern capitalist world your opportunities and pathway to power and glory depend only on your race country and social class. The system which prefers the few must be changed. Let there be private ownership but it must follow private responsibility towards the society. Everyone who is rich must provide to the common good.
Only paying taxes to government will not suffice. The rich (whether government/corporations/individuals etc.) must directly pay to the needy and less unfortunate ones without the medium of governmental spending i.e. taxing. So there must be an authoritative system from government or which people can trust i.e. religious authorities to liaison between the rich and the less unfortunate ones.
The government of God must start by economic census of every one. Through census a chart of rich and the needy one must be formed. The needy ones are those who barely manage access to the common good. The rich are those who can access the common good in the highest cost possible. Highest cost is determined by current economy, the current market. Highest cost is not accessible by the many but by the few.
Secondly everyone must have a share of benefit from the natural resources of their nation. No matter which entity utilizes and exploits the natural resource everyone must have benefit from the God given resources of their lands These resources are created by God and not invented by men so its ownership universal.
The distribution of wealth from the few should be done through active charity. Active charity is a system of charity where a trusted authority liaisons between the rich and the needy. Suppose an authority is trusted by the people then this authority will in intervals make a practical house to house survey through talking with the needy people, understanding their needs and knowing them. Once such information is collected it will be prioritized on basis of urgency and who deserves earliest help. This information collecting can be crowdsourced by multiple entities to have corroborations on the true identity of people’s need and the needy people. This information finally is processed and organised then sent to the economic census bureau who distributes the wealth to the needy ones.
In this social contributive system the rich must bear the continuous responsibility of their being rich and successful by the service of the society or country they are in. This service is excluding the taxes the rich pay to the government.
There are too few rich entities with too much world wealth.