It would certainly be a start, although I can think of at least three mechanisms just off the top of my head that are available to people with that kind of money to make a capital gain not a capital gain.

The loopholes are the problem, and it’s a job for governance to fix.

Every time a politician says “tax the rich” or “Company X only paid Y last year and should apologise and pay more” all I can hear is “we can’t be bothered to do the job you elected us to do”.

Imagine if the police didn’t respond to crimes in progress but instead made sternly worded public statements after the fact saying that criminals should be very disappointed with themselves and should apologise and pay back 10% of what they stole as restitution.

The status quo is absurd.