A wealth tax is a nice idea, but I see it as difficult to enforce. We would hove to hire agents to track down assets of the wealthy, and give those assets an evaluation. Who is going to decide how that corporation or yacht is really worth? Any assessment could be challenged, so courts would be plugged up, with lawyers making lots of money to defend the rich.

Right now, western nations need to get around offshore accounts and shell companies for the wealthy to pay their fair share of taxes. If we can’t do that, a wealth tax is not likely to achieve the desired effect.

And when the “law of unintended consequences kick in”, the laws that were designed to stick it the rich will be applied to the middle class. Except the middle class cannot afford the lawyers.