I'm all for wealth taxes. Its better at redistributing and over time ending inequities. In particular it'll organically redistribute generational wealth ('old m

I'm all for wealth taxes. Its better at redistributing and over time ending inequities. In particular it'll organically redistribute generational wealth ('old money'). PG's analysis seems a bit pessimistic since it presumes the wealth wouldn't grow otherwise (with the stock market, real estate, or other investments). There are practical problems though: how do you determine the value of privately held assets, and how would you deal with paying cash when taxing illiquid assets that may not be producing a cash profit?