Of course it's not fun to have to pay. At the same time the vast majority of the wealth tax is paid by a vanishingly small proportion of society that mostly pay

Of course it's not fun to have to pay. At the same time the vast majority of the wealth tax is paid by a vanishingly small proportion of society that mostly pay extremely little in income tax despite being some of the richest people in the country. It's effectively largely plugging a loophole. At the same time there is a significant social good in encouraging efficient investment of capital. If someone can't get returns sufficient that the wealth tax is nothing but a minor nuisance, it's better that capital gets distributed elsewhere.