"Wealth tax" already exists. This can be found in Islam. Muslims have an obligatory charity called Zakat, 2.5% of your standing wealth (if you meet the thresho

"Wealth tax" already exists. This can be found in Islam. Muslims have an obligatory charity called Zakat, 2.5% of your standing wealth (if you meet the threshold) directly goes to the poor. This includes what is in your bank account, savings, stocks and shares or investments you intend to sell.