An Insight

The thing that's not even mentioned in wealth tax discussions in Europe, but very much in the US:

Wealth taxes are a mechanism of state seizure of property.

Income tax is a transaction tax, so is VAT, so is CGT. They're taxes levied on a movement of money.

But a wealth tax…

— James Clark 📈📉¯\_(ツ)_/¯ (@mr_james_c) July 10, 2026