To everyone who is saying "this doesn't take into account asset growth": please simulate this for yourself to understand that it does. If you have shares of a

To everyone who is saying "this doesn't take into account asset growth": please simulate this for yourself to understand that it does. If you have shares of a company and, assuming that you have to liquidate stock to pay the wealth tax, then it doesn't matter what the growth in the value of the company is. i.e. if the growth rate is 10% p/a, then after 40 years the value of the original stock is about $4500. A 1% wealth tax will have taken about 33% of the stock away from you at this point. If the growth rate is 50% p/a, then the value of the original stock is over $1bn. That 1% wealth tax will still have taken about 33% of that stock away from you. Obviously, with the higher growth rate, you'll be wealthier, but the proportion of your wealth that the government will have taken is the same.