Said it before, but the introduction of a wealth tax will mirror the implementation of the income tax. The propaganda on the income tax was that it would only apply to the most wealthy, and see what it has become. A wealth tax will inveitibly end up the same.
Once started, the Rats and RINOs will not be able to stop themselves from spending and taxing. Give it 10 years and it will be a wealth tax applied to everyone with more than 50k in total net worth. And, just think about the costs associated with determining the total net worth of each filer.
You are correct. It is tax-the-rich sound bite for the poor inner city vote that would eventually lead to much higher taxes on the middle class.
There are about 84,000 families in the US worth more than $50 million. If you taxed them all another 1 to 2, or 3 million dollars it hardly put a small dent in the national debt.