France experimented with a wealth tax for a few years until they decided to scrap it after they realized it resulted in _lost_ tax revenue [1]. Morality aside,

France experimented with a wealth tax for a few years until they decided to scrap it after they realized it resulted in _lost_ tax revenue [1]. Morality aside, every billionaire probably has the resources to retain a few lawyers and tax accountants and find a loophole to avoid this, or failing that, move to a more billionaire friendly country (and there is no shortage of those). [1] https://www.npr.org/sections/money/2019/02/26/698057356/if-a-wealth-tax-is-such-a-good-idea-why-did-europe-kill-theirs https://www.npr.org/sections/money/2019/02/26/698057356/if-a...