> The tax rate would be 0.4% of net worth Rich people have most of their net worth in assets afaik. So, even "just" 0.4% of the net worth would be quite sever

> The tax rate would be 0.4% of net worth Rich people have most of their net worth in assets afaik. So, even "just" 0.4% of the net worth would be quite severe. Add to that, that the stocks of certain companies are inflated atm due to corona, they would have way more "net worth" than usual. So if they have to pay taxes on the inflated price and then the price falls they are gonna lose quite a bit of money. If they can't cover it with liquid assets they would have to sell other assets at a, probably, below market rate. This is gonna backfire so very hard.