It's not because they repealed them that they don't work. It could also be a symptom of the current times in which wealthy people became extremely good at influencing politics to reinforce their position.
This is a point worth emphasizing, a tax being repealed does not necessarily imply a lack of efficacy, due to the aforementioned reasons of political influence/corruption etc. Switzerland has done very well with a global wealth tax, arguably being the highest standard of living in Europe.