I generally approve of this analysis.

In a competition for limited resources, those relying on interest payments from capital seem likely to get progressively poorer - relative to those with interest payments from capital and income from work - even if the work income is taxed and redistributed.

Yes, the poor can vote in tax increases - but the rich can lobby the government, perform tax dodges, seek out tax havens - and so on. I know which position I would rather have.