It is a part of the solution in some specific circumstances. It is not a panacea in most situations. Taxing the rich must be paired with appropriately targeted means-tested programs (designed to reduce negative secondary outcomes), long-term investment into human capital and infrastructure, regulations, utility provisions, etc.
I am not comfortable with after-the-fact efforts to redress inequality. They are less just inherently than altering the opportunity structure in the first place. While some rich generated their wealth from contributing very little of value or being outright parasitic, others did so by making real contributions. While those contributions should not be viewed as orders of magnitude more important than anyone else's, they did work within the opportunity structure that we have.
However, our tax system is so problematic, at least in the United States, that it is basically a regressive tax. That needs to be adjusted. But it is only a part of the solution.