The title is totally misleading. A wealth tax by definition is designed to be over 100%. For example, if you have $1000 and you don't make any money whatsoever

The title is totally misleading. A wealth tax by definition is designed to be over 100%. For example, if you have $1000 and you don't make any money whatsoever and get taxed at 1%, you have to pay $10. In this hypotethical case, your income or capital gain tax rate would be infinity, but it's ridiculous to look at it that way because it is a tax on net worth. My property tax is over 100% too because I have no income from my property.