Wealth tax is not easy to implement. This is why current “proposals” introduce arbitrary limits like “we’ll tax unrealized gains but only for people with ____ i

Wealth tax is not easy to implement. This is why current “proposals” introduce arbitrary limits like “we’ll tax unrealized gains but only for people with ____ in assets” which is just silly. There shouldn’t be any laws that define arbitrary limits to pay tax, simple rules can be established such that taxation is the same across the board. In reality all you need to is tax assets that are used to loan (non-taxable as you said) against it. It Elon wants to take out loan against his shares of ____ he needs to pay the tax on gains on those shares as he’s effectively sold them. The issue here of course is that people that would put in these laws are the same that are bought by the very money they are supposed to tax… ;)