Yep, I have to agree. It would be next to impossible to administer a wealth tax. The ultimate solution is to let the multiple heirs dilute the wealth base or spend te wealth foolishly. History suggests that most dynastic families usually don’t last past three generations.

Unfortunately, the wealthy can still economically justify the expense of shell companies and offshore banking even with a “reasonable” tax rate of 25%.

We really need to educate the wealthy that to attain and enjoy wealth, one needs to live in a civil society. And that society requires all citizens to pay taxes.