Elizabeth Warren

and even if we somehow could muster a majority in both houses and have a president who would sign it, we'd never get a constitutional amendment ratified to allow it.

taxes essentially need to be levied on a per capita basis, except for the income tax, which only became possible after its own constitutional amendment was ratified.

"wealth" is neither income not per capita, so i don't see how it's constitutional.

in theory, though, i like the idea of a wealth tax, in fact, in lieu of an income tax entirely. encourage economic activity but discourage hoarding of assets. the only downside is that income is much easier to detect because someone else has an incentive to report. it's much easier to hide wealth.