The answer to your questions is, "because we are powerless to stop it." We have been trying for more than a half a century.
"Which should make all of us question why do we allow this situation to continue? Why aren’t we doing more to combat this rising wealth inequality?"
Bring as many guillotines to the public square as you want, they are useless if you can't get the billionaires head in the stocks.
Just a point of history. The French Revolution begat Napoleon Bonaparte. Who will you support as the emperor following your revolution?
You can't bring billionaires to justice; they could flee but they would not need to as they have the power to control the wheels of justice.
Revolutions mostly go badly for the populous. You end up with new leaders same as the old leaders or worse.
Very many have made the same arguments you have made. They are not invalid they are just unworkable. Wishing for the impossible is not a solution.
We can't even impose tiny taxes on the rich, how do you plan on taking all their money?
That is a no joke question, that is what I have been asking and trying to formulate.
We know what we need to do. Nobody knows how to get it done. Why? Because we fail to ask the right questions.
We need everyone to work on the answer to this question; How do we put the billionaire's billions to work for society?
That is what we really want, right?
Is your goal to punish billionaires?
Do you want to impoverish them?
Do you want to kill them?
I just want to take their money and power and put it to much better use.
I want to prevent them from doing more evil.
Some ideas that don't work so don't bother to suggest them.
A violent revolution.
Voting in representation that will pass laws that will end the evil and lead to a sustainable future.
Make Greta or AOC God.