@rbreich The problem that I am seeing with a wealth tax is that megabillionaires might decide to muck around with the stock markets in order to tank their own net worths when it comes time to audit them for the tax value.

They would be incentivized to do it because it saves them money in taxes. And the only reason not to is for the bragging rights of who has the biggest wallet.

Let's start by closing loopholes and raising the income taxes for the top bracket. Then worry about the hoard.