The issue isn’t that people wouldn’t try getting richer above 50 mln, the issue is that they would try to make it look like they have less than that to avoid ex

The issue isn’t that people wouldn’t try getting richer above 50 mln, the issue is that they would try to make it look like they have less than that to avoid extra taxes. Most obviously, a couple worth 98 million can get divorced and, voila, each of them is worth 49 million and they completely avoid the tax. These effects make it difficult to rely on the supposed revenue wealth tax is designed to collect.