[hanamizu]

And a bonus to a wealth tax is that everything you own is now the government’s business. In order to ‘fairly’ charge the tax, the government will have to have access to your home, your safe-deposit boxes, everything. Of course, comrade, if you have nothing to hide, you have nothing to worry about.

[E. Pluribus Unum]

And a bonus to a wealth tax is that everything you own is now the government’s business.

Property taxes already gave ownership of all property to government.

Pay the government their property tax (rent) or they kick you off their property.

[Texas resident]

That has been done in The Netherlands. A friend of mine’s father was a retired machinist there. He had to pay a wealth tax based on his total assets. Year after year, he had to sell off assets to pay the tax. In the end, he owned nothing.
But his tax bill was zero.