[throwitaway222]

People with that much wealth should keep their money and use it where they see fit. A "wealth tax" forces some people to sell stock since not everyone has liquid assets. The CA "wealth" tax was written in a way that they could instantly turn $1B -> $1M or $100K overnight without a vote.

So many reasons why it's not a good idea to have a wealth tax. But the biggest reason is that nearly all our tax money is going to fraud. This is why our economy would BOOM if we got rid of a lot of taxes and reduced our fed/state governments a LOT. I just want roads, military and police. There is no reason why we should allow our government to be weaponized or turned into a nanny state when SO much of they money they collect is wasted.

Corporations that provide money for causes is often looked at because it's an investment. The world can learn a lot of free market capitalism, but it keeps pretending that half the people won't just DIE in communism.

[radiator]

While I agree that tax money gets wasted by the government, I must note that there exist other countries, explicitly not free market capitalist, where getting ultra reach is not the aim (crazy, eh?) and in the last 40 years they have come a long way in creating prosperity for everyone.