The problem with these debates about "capitalism" or "socialism" (and both need quotation maks here) is that long before they are economic systems, they are an ethical issue. People on the right or on the left, who are actually labels that superficially try to tell how libertarian or authoritarian a person is (both in the economic sense and in the individual freedoms sense), are people who adopt different ethical principles. And so, in essence, they will never agree on economic issues because they both start from different premises.
A basic question like "who owns this piece of land" has absurdly different answers depending on who is going to answer this question. In fact, the very question of whether one can actually even own anything beyond one's own body and autonomy already has very different answers. Since several other points are just consequences of these initial positions, it is not surprising that both look at each other as if they were both stupid. Of fucking course the conversation is impossible, you're not even starting from the same principles.
And something that does not help at all is the fact that the economy does not follow ethical principles. At all. The economy is a system of its own that is nothing more than the interaction of several autonomous and independent (or interdependent in certain cases) entities. The market is "alive", and does not necessarily respond by following the ideas of those who try to determine the rule for it. Trying to tamper with the market is almost always like trying to control an ecosystem: 90% of the time you have no idea of what possible consequences are, and in some years you will have to deal with an insect infestation that you have no idea where it came from. But the shit is on everywhere.
For example, in my country they are trying to pass a law that tries to put a ceiling on the annual interest rate. Which sounds great for anyone who wants to get a loan, after all now he knows exactly how much he's going to pay and will not be "exploited" by the banks, right? Well, that's great and all, but my question is, if you're a bank, would you even want to give someone a loan on those terms? Statistically, in my country, only 20% of debts are actually paid in the end. That means that of every $100 taken out on loan or on credit, only $20 returns to the bank. Now ask yourself the question: who pays the difference? If you think for a moment, you know the answer. So now you should ask yourself, who would you want to offer credit for, on those terms?
This not to mention the obvious difference between wealth and income. The owner of a restaurant chain may have a wealth close to a few tens of millions, easily. But his annual income may be no more than tens of thousands. So when someone is going to talk about taxes, before even talking about what would or would not be fair or ethical you need at least to understand the difference between these two things. And again, understand the situation from the other side's point of view - because there's a person there, not a block of cement. If you say to the person, "I'll take 60% of your wealth," what's the first thing you'd probably think? I don't know about you, but no doubt I would think "well, is there any other place with someone who wouldn't take 60% of my wealth"?
Let's remember that wealth isn't income. If you create a situation where it is more advantageous for a person to close their businesses and get all the money to invest in applications in another country... What do you think the person will do? I know of cases of people who literally renounce their citizenship/nationality to protect their resources from their country of origin. Again, the economy is alive, you can't expect all entities to just bow their heads and follow one rule just because you think it's more or less fair. Unless there is global coordination among all countries with simultaneous changes in their respective economic systems, the effects of one change in one place will create pressures that favor or disfavor certain behaviors. And this leads the government to become more and more authoritarian, to try to control the leak of resources.
But hey, I'm sure everyone here is an economic graduate with dozens of years of experience and knows that their respective countries are a blessing to humanity and have led everyone into a glorious future.