."If you are super-rich, although you might pay taxes on capital gains or inheritance, you don’t pay any taxes on your financial assets simply by virtue of owing them,” Mason explains.
Hmm, so they should tax every year on that which people have earned, paid taxes on, and own in their own right.
In other words, everything you own belongs to the state and you will pay rent on it every year if you wish to have [temporary] use of it. After that, confiscation of your assets upon death will be suggested.
Actually,that has been in practice to a [up to now] limited degree with estate taxes. Which are nothing more than confiscation of legally owned property.
“so they should tax every year on that which people have earned, paid taxes on, and own in their own right.”
In some way they are doing that now: Real Estate and personal property taxes.
Plank #3 of the Communist Manifesto: Abolition of All Rights of Inheritance.