I see it as similar to the land value tax versus property tax. Property taxes (as I would argue) aren't ideal because it discourages people from making improvem

I see it as similar to the land value tax versus property tax. Property taxes (as I would argue) aren't ideal because it discourages people from making improvement to their land. It is good (both for the owner and society) if they improve it and it is bad (both for the owner and society) if they let it stay empty or rot. Similarly, capital gains taxes discourage people from building new companies and investing in new ideas. A wealth tax would, instead, discourage people from hoarding their money in investments that don't produce new value. I do think the implementation is difficult with privately owned businesses. I agree - it seems very difficult to do so but not impossible to do if we figure that the wealth tax would only be implemented for those individuals holding stakes in companies worth more than 10M (or whatever)