thing is the closest easiest tax to implement that would target the elite networth is the land value tax not wealth tax because they cannot move land. it literally is right there cannot be hidden. they may argue about the value but they cannot escape. its the least bad tax as well. but homeowners keep on complaining like little girls that boomers cant pay for it except boomers have already been bailed out by 2-3 generations already they stole futures from and now they still complain whine moan while voting for nimby policies they are literally destroying multiple generations putting them and us all into slavery for their own gain because they are the most spoiled brat generation to have ever walked the earth.
so sick of it. just tax them until they all go bankrupt. 20% lvt will cover income tax and sales tax for the whole country
excuse me most of their worth isn’t going to be liquid because they made it illiquid by design and every incentive to pump their own assets we are asking for real valuation if they want to avoid taxation. meaning the stock market housing market all bubbles will be much more muted if they dont wanna pay the taxes. the whole reason for the extreme bubbles in housing is precisely for the buy hold die strategy while paying almost no taxes and instead use the borrowed money to buy up everything and enslave multiple generations with borrowed money off hot air balloon money.
either they can sell covered calls on their own stock sell their stock or dividends. or they can take out loans on the stock or take out loans on their house or rent it out for extra income i dont care they have millions and billions in value so go tap it and pay the tax if you dont wanna pay as much tax lower the valuation or extract value from it to pay the tax no one cares.