I really appreciate this voice of reason and would further like to add a few points. As a tax paying citizen in my country i think that taxes are needed for the upheaval of the country as a whole in an "aggregate fashion". So my question is that even if a country implements wealth tax how is that money going to benefit or trickle down to the lower strata of the society? Do we just add more social benefits which i am against as if you just take money from people and redistribute you are essentially becoming a socialist economy.

Another question that arises here is if the discussion is happening because the tax collected is not sufficient currently? If that is the case then a proper solution would be to and i hate to say this increase the tax rates for everyone. The number of billionaires the people want to tax are essentially pretty low and in a country based economy where there are pretty large numbers haggling away their 1 percent wont really make a difference to a big country.

The issue with wealth tax is that it focusses on a particular well off section of society and that particular section of society is actually just being targeted because they are wealthy. The thing people take for granted is the number of jobs and employment they generate and the services they provide. They actually are so well off that i worry if someone would be able to stop them if they just decide to leave?

Its rather mundane to say that the wealth is not trickling down. These people are generating wealth. Why do you think US is the biggest world economy? Hint: its because of these billionaires we love to hate.

just my 2 cents.