The gap between what one knows and what one thinks one knows may be higher in the ranks of the elite. The result is supposedly-clever government interventions, introduced with excessive confidence, leading to disastrous results.
Your generosity is reflected in what you do with your own money, not in what you do with other people's money. If I give a lot of money to charity, then I am generous. If you give a smaller fraction of your money to charity, then you are less generous. But if you want to tax me in order to give my money to charity, that does not make you generous.