No one is proposing those taxes on middle class people. For example, Elizabeth Warren’s proposals would only affect those with more than $50M in assets. Second

No one is proposing those taxes on middle class people. For example, Elizabeth Warren’s proposals would only affect those with more than $50M in assets. Second, the proposal isn’t to tax on price changes, its taxing the value of the asset at a given point in time. If the value goes down, the tax collected goes down. This is also how property taxes work - it’s a percentage of the assessed value. If the assessed value drops, you pay less in taxes.