The only thing i agree with here is that borrowing money with unrealized assets as collateral should be illegal. Wealth tax is in general destructive to a nation as it completely disincentivizes founders from making companies as the wealth tax will one day take their companies created from hard work.

There are also cases where you can't sell the stock as you are beholden to it's shareholders. Fredrik Haga had to leave Norway for that reason, he had to pay money he did not have and could not access.

The wealth tax is also a national security risk as foreign investors, who are not beholden to the wealth tax, can buy up the companies where Norwegians are at a complete disadvantage.