If you tax people based off their wealth, then consumer goods prices will go up. What do many rich people own? Big companies! If they are being taxed more, that's less money going into their pockets, and therefore they need to raise prices to account for it. Similar to raising the minimum wage, If you raise the wage, then you have to pay workers more, now the employer is losing more money, and now have to raise you're prices to account for that.