[tpmoney]

Replying to myself since it's too late to edit, but according to these numbers[1], it looks like this tax would hit about 52% of American households, so my "even the poorest of Americans" is a bit overwrought. And if we take the US median home price (~410k as of this year[2]) and exclude 75% of that (~307k), then this tax would hit ~30% of American households (~$481k net worth). Even at that, it's still quite a hurdle to clear to convince the top 1/3 of households support a 1% tax on their accumulated wealth.

[1]: https://dqydj.com/net-worth-percentiles/ [2]: https://fred.stlouisfed.org/series/MSPUS