The logic of federal wealth tax is that you can't really move away from them - you're taxed on exit, not to mention access to USA. Washington state wealth tax

The logic of federal wealth tax is that you can't really move away from them - you're taxed on exit, not to mention access to USA. Washington state wealth tax can be modeled similarly. The point of wealth tax is not even to get to equality - even if cutoff is on 1 billion, this level is still very different from the average. The point is that most - all? - billionaires grow their wealth faster than 1%, so wealth tax is just another tax - which still allow billionaires get richer.