> the tax would never be more than the annual net return of the farming activities. Doesn't that end up being nothing more than an income tax? Presumably the i

> the tax would never be more than the annual net return of the farming activities. Doesn't that end up being nothing more than an income tax? Presumably the intent of a wealth tax is to capture from the benefits people have from holding things that do not normally return an income, such as housing. In fact, housing property is already taxed in many jurisdictions for that reason, so maybe not the best example of where a new wealth tax would benefit, but you get the idea.