You've got it exactly backwards. The problem isn't that the rich buy too much. The problem is that they don't buy enough. They lend and invest and leverage and otherwise use their money to create debts owed to them.

The cars they buy each pay autoworker wages. The shares they buy in that car company creates an obligation on the company to pay them dividends.

We should be doing everything we can to increase their costs and decrease returns on excessive investments, while removing impediments on them buying services and manufactured products.

If they want private flights, great, but they also have to offer them at an affordable price to the average person.

Individual motorized transport for the masses, but in the skies? This would ultimately doom our ecosphere. Let's instead have less flights, less individual transport and more mass transit.

I think I generally agree to your idea but want to include future generations; sustainability. It's not enough to allow all currently living people a certain lifestyle. What good is it if the result is a scorched Earth a few decades later?

Or maybe you didn't mean it that way. Sorry then, still wanted to make that point.