The assets offshore, or those in American territory?
“Taxing the rich” actually means increasing taxes on the middle class because we tax income and the truly rich don’t get their money by income. The guy you end up hammering is the doctor that makes $400K a year and it’s all on a W2 from the hospital. That’s not rich, that’s upper middle class. The truly rich are like the Kennedys and Rockefellers that don’t personally own anything but have all the family money and assets in trusts, most of them probably have a $1 annual income. This proposed tax won’t touch them either.
Even if this stupid tax was enacted it wouldn’t raise a nickel, you’d just have a bunch of family trusts worth $49 million each.