> But there are bad taxes. There is such a thing as too much tax.
Having a wealth tax doesn't mean the total tax goes up. Normally when discussing the merits of a certain kind of tax it's best to assume another tax is cut, otherwise it invariably becomes a discussion about whether high/low/more/less taxes are good.
Historically a wealth tax has been an increase in taxes that ironically led to increased regressive taxes as the projected gains failed to materialize due to business restructuring.
Having a wealth tax doesn't mean the total tax goes up. Normally when discussing the merits of a certain kind of tax it's best to assume another tax is cut, otherwise it invariably becomes a discussion about whether high/low/more/less taxes are good.