Why has zakat disappeared, and is it for the the rich or for the poor?

Zakat has not completely disappeared, and there are still those who pay zakat on their wealth, as well as institutions and bodies dedicated to zakat. However, many people are stingy with all or part of their zakat, and these individuals are exposed to Allah's punishment if they do not repent and pay the zakat due on their wealth. The poor are numerous and in dire need. If the wealthy were to pay the zakat due on their wealth, many of the poor would become self-sufficient, poverty would diminish, and harmony and love would prevail.