The moral reason to tax wealth is because gross (and accelerating) inequity is unfair. We're way past the era of the landed gentry extracting rents from the poo

The moral reason to tax wealth is because gross (and accelerating) inequity is unfair. We're way past the era of the landed gentry extracting rents from the poors. Err, I mean we should be. The practical reason to tax wealth is to keep the money moving. Idle capital (hoarding) is its own special badness. Keep the money moving. Either the wealthy spend their money (R&D, philanthropy, building cool new stuff, ice cream for all) or the people will spend it for them.