Typical know-nothing policy from a Democrat. Yeah, let’s follow the Super Tax that Great Britain levied in the late 1960’s and drive all of the wealth out of the country. These idiots refuse to admit that the wealthy drive this economic engine through capital formation. The US denigrates the rich and idolizes the poor? Why? How many of you were hired by a poor person?
If I have 20% of the economic pie and you have only 5%, the Democrats idea is to take away from (productive) people and transfer it to (less productive) people...a zero-sum game. How ‘bout this instead: Use monetary and fiscal policies to foster economic growth and increase the size of the pie. If the pie grows by 10% and prices are stable, you just got a 10% increase in your real income without penalizing either sector. A rising tide lifts all boats. The Liberal idea of sinking all the yachts does little but put everyone into a row boat. Socialism at its best!
Learn some economics before you start changing economic policy.
The wealthy these days are very aware that their wealth could be suddenly hit with new taxes in various jurisdictions, and they have contingency plans in place.
Keeping homes in several countries gives them real flexibility.
Hiding assets through layers of holding companies all over the world makes it even harder to track their ownership.
Electronic funds transfers can move their money around in a matter of seconds.
Defeating a wealth tax is so easy a rich monkey could do it.