I see them as immoral, like stealing, cause you've already paid your "fair share" the first go around when you were taxed on job earnings or investments or whatever. To have to government come back and double dip and say "Hey, I know we already took our share, but now we want to tax you again" is wrong. Not to mention the fact that it punishes those who saved and were wise with their money. The more you save for the future, the more wealth tax you would pay, as opposed to someone who just blew through their money. Its clearly in a different category than any other kind of taxation. Also, your property taxes are deductible, you should know that.
Not to mention the fact that when you experience other taxes, like income tax, sales, tax, etc, the money is there. The govt is taking a portion of what is coming in to your pocket. A wealth tax, might leave someone with an obligation to sell off their wealth in order to come up with funds to pay the tax. What if you inherited a $50 million mansion and that's really all you had aside from a few hundred grand in an IRA. Now you owe 2% wealth tax. Where are you getting 1 million dollars to pay up? Gotta sell the house. That's not right. And yeah yeah, poor guy in my hypothetical who inherited a $50 million dollar mansion, but the point still stands.
Its easy to have different standards when you are talking about people who are loaded, and a lot of times its unintentional. But what if you switched your perspective and start assessing whether we should go after the "wealth" of someone making $50k a year, who has saved for 20 years and has a small nest egg tucked away. Would it be right/moral to tax his wealth???
Just cause you add a few zeros to someones wealth, it doesn't change the principles.
