Not an expert in this area but I suspect if this idea started to gain traction people would liquidate all their holdings using any tax loopholes they can find t

Not an expert in this area but I suspect if this idea started to gain traction people would liquidate all their holdings using any tax loopholes they can find then move their money to a country that does not have this tax and put their money in anonymous trusts, shell companies, etc... I have no idea what impact this might have on the stock market, banks, investment firms, state or national GDP. There are many countries one can purchase a citizenship.