Could a Progressive Tax System make the Rich/Wealthy Business Owners who own and run the means of production c?

No, it will make everybody poor and oppressed. Here is the reason. The wealthy will not give up their wealth willingly. Therefore, most wealthy will leave the country and operate elsewhere with less restrictive conditions, and take their wealth with them. This will obviously have a drastic economic impact on the country/economy, and could cause a complete economic collapse, thus, the poor part. So, force would be necessary to take their wealth, hence the oppression part. Once the wealth is received by the government, human nature takes over, and they keep the wealth for themselves. It has happened every time.