3 and 4 are the real problems with a wealth tax.
The fundamental issue is that the government spends too much money. The politicians and the voters who support them refuse to support cuts in the magnitudes necessary to bring that situation back in hand. Many don't even believe it is a problem. On top of all that, the programs they refuse to cut, at every governmental level, are exactly the programs that suck up the most money. Medicare, Military, Police and Fire, on and on.
99.999% of all voters are like the family in the financial advisor's office who are willing to cut the trips to Starbuck's or go to a cheaper gym. So they feel they are being responsible. But they tell the financial advisor that the kids' private school tuition and the $50,000 cars they drive are not up for discussion. (Lord help you if you have the temerity to bring up the biggest issue of all, the $500,000 house they live in. You better have you kevlar on for that discussion.)
What can you do with people like that?
