Why on earth should we care about illiquid wealth that can’t be used to do anything? You can watch here[1] how Larry Summers asks Emmanuel Saez, the leading pr

Why on earth should we care about illiquid wealth that can’t be used to do anything? You can watch here[1] how Larry Summers asks Emmanuel Saez, the leading proponent of wealth taxes, how liquid wealth gives individuals power in their personal capacity. Given how extremely underwhelming Saez's response is, I can't imagine any of the wealth taxes proponents having a good answer for the illiquid situation. [1] - https://youtu.be/oUGpjpEGTfE?t=3869 https://youtu.be/oUGpjpEGTfE?t=3869