There is always going to be income inequality.... that will be with mankind for eternity.... because there will always be skill and ability inequality, as well as differing demand for said skills. There is also different levels in ambition and give a damn amongst people. All these are realities
If we have open economies that allows for upward mobility, and free market competition, then people are more in control of their financial outcome.... increased taxes reduce upward mobility.
In a pure capitalistic economy, sexism and racism wouldn’t occur since the focus and rewards would based upon production, service, competence and innovation, not sex and color.....sexism and racism isnt an indictment of any economy, only of the bigoted individuals of society
My 2 cents