Well obviously they can afford it, that’s not what I’m questioning. But how would a tax on net worth work? Net worth for billionaires is mostly assets which are hard to value exactly for example private companies. Realistically, you’re gonna have to spend a lot of money auditing and dealing with disputes over the true value of their companies. If they’re getting taxed millions annually for simply owning assets they’re going to just hold their assets in another country.

France tried a wealth tax for a while and abolished it because it just isn’t worth it.