[plutonic]

There is the real issue of people holding onto illiquid assets which are difficult to monetize. E.g, the phrase "land rich, cash poor" comes to mind. Selling off small portions of land, or renting out a bedroom at a time, are difficult for logistical or regulatory reasons.

Not that I disagree with your sentiment. Just, there are non-trivial problems w.r.t. taxing wealth, as opposed to taxing income (which is probably already being paid in fungible, liquid, dollar bills).