If the rate is too high, I suspect wealth will be transferred to assets like real estate with lower annual taxations. And this will lead to a new class of specu

If the rate is too high, I suspect wealth will be transferred to assets like real estate with lower annual taxations. And this will lead to a new class of speculation. Or rearranging deck chairs on the Titanic because we haven't solved the fundamental problem that there are just too many bespoke deductions for the rich.