[jmorrow977]

Feasibility is a valid concern. Here's what I think.

Stocks are traded on public exchanges. Land and buildings stay in one place. Private jets need to land at airports and they each have a tail number. Most things to be sold efficiently are sold in public marketplaces. There are probably some assets that are hard to track, just like there is currently income that is hard to track. Some people are paid in cash and don't report it. A whole multi-billion-dollar black market of drugs, prostitution, etc. exists that is largely not income taxed. It happens. But in general income tax works, and a wealth tax would too.

[aetherson]

A huge amount of wealth is tied up in land, which is ultra difficult to assess the value of without actually selling it.

[daurnimator]

land is already valued for "tax" purposes as council rates.