That's because wealth, particularly land and other limited resources that provide a benefit to the owner without any effort on their part, should be taxed. If y

That's because wealth, particularly land and other limited resources that provide a benefit to the owner without any effort on their part, should be taxed. If you don't tax it, that's what leads to monied elites that sit on their asses without providing any benefit to society. Untaxed property leads to property owners that mooch their existence off the rest of society. I've seen excellent arguments for taxing only those specific types of wealth because it maximizes the amount of productivity that each member of society is contributing to the group whereas taxing income has the effect of deterring productivity...granted, at the levels that we currently tax income, the deterrence factor is very small, but it's still there.