I think, up until now, no politician has campaigned on the combination of a wealth tax and a significant income tax reduction. Wealth taxes are always proposed

I think, up until now, no politician has campaigned on the combination of a wealth tax and a significant income tax reduction. Wealth taxes are always proposed as in addition to, rather than a replacement for, income taxes. This makes them an electoral loser. All the temporarily embarrassed millionaires and billionaires come out to rally against the wealth tax. On the other hand if it put significant money into most people's hands...it's going to be a lot harder to fight.