Wealth taxes have all kinds of major issues. Many countries have attempted them, such as Sweden, then reversed them, because of adverse outcomes. Primarily, wea

Wealth taxes have all kinds of major issues. Many countries have attempted them, such as Sweden, then reversed them, because of adverse outcomes. Primarily, wealth flight. The wealthy can live wherever they want. They often pick Switzerland. In a perfect world we would have an international wealth tax agreement, which would enforce the same wealth tax no matter where the wealthy fled. Because we don't have that, wealth taxes usually result in adverse outcomes. I think land value tax is much better, and solves a number of other structural economic issues at the same time.