TLDR: author lacks basic understanding of both macroeconomics and the reasoning underpinning the complexity of modern tax systems (here's a hint: tax codes alwa

TLDR: author lacks basic understanding of both macroeconomics and the reasoning underpinning the complexity of modern tax systems (here's a hint: tax codes always start off simple and get more complicated to minimize evasion and loopholes.) The idea would not work anywhere unless adopted everywhere; a perpetual 4% tax on wealth in one nation would lead to the immediate or near immediate flight of capital to other nations. On the flipside, a 3% tax on income is generally too low to be meaningful except in ridiculously small European countries. At 3%, you might as well just not bother with an income tax because the cost of calculating and collecting the tax (both on the government and on taxpayers) would in most countries exceed the revenue brought in.