>I don't even gross 200k USD per year and I could afford a 1-2% wealth tax, no sweat.. wouldn't even miss it. In fact my savings would continue to grow almost u

>I don't even gross 200k USD per year and I could afford a 1-2% wealth tax, no sweat.. wouldn't even miss it. In fact my savings would continue to grow almost unabated. THIS! Most Americans just don't have many sitting assets, so even if you made the wealth tax apply equally to everyone, and we all had to pay an additional 1% on our net worth each year, for most of us that's either 1% of our house value or 1% of a small amount sitting in a bank account. For a billionaire that's $10M, which is about my city's whole budget. So another framing could be: "billionaires should annually pay for a small city's municipal expenses" -- it seems more than fair. Even in the case of not-yet-wealthy-startup-folks, assuming shoddy implementation -- "my money isn't liquid -- paying 1% tax on $1M of monopoly money from a startup is going to be hard" it's actually just $10k. And marginal rates and floors can easily make it all work. I'm a spoiled tech employee, I'd pay 1% of my salary a year for the purpose of helping mitigate income and quality-of-life inequality.