@nitinkhanna Austria, Denmark (1995), Germany (1997), Finland (2006), Luxembourg (2006) and Sweden (2007) all reversed their wealth taxes.
The Federal Constitutional Court of Germany in Karlsruhe found that wealth taxes "would need to be confiscatory in order to bring about any real redistribution". In addition, the court held that the sum of wealth tax and income tax should not be greater than half of a taxpayer's income. "The tax thus gives rise to a dilemma: either it is ineffective in fighting inequalities, or it is confiscatory – and it is for that reason that the Germans chose to eliminate it." Thus, finding such wealth taxes unconstitutional in 1995
Also wealth taxes are a transfer or personal wealth to the government. Are you advocating the wholesale theft of billions of dollars of personal wealth to the USA government? The same government that intentional meddles in the affairs of other countires, that intentionally destabablises countries. You are delusional to believe that this money would be used for the good of ALL. How would you feel if a wealth tax was used to build a border wall or fund ICE programs?