Wealth is not a crime. Wealth is usually a result of several generations working their butts off to build opportunities for their descendants. Why do you want to rob them of generational effort?
Assets are relative and so is wealth. A $700K home in suburbia NY or LA is not equivalent to a $700K home in rural Alabama. So how is your tax scale equitable?
Why are you worried about tax revenues when we have 4% unemployment, that will naturally generate more tax revenues?
Why do you want to aggregate more money for the government instead of cutting government?
Under your rob-the-rich plan, nobody has an incentive to be anything other than lobster-foodstamps-surferdude - working just enough to afford couch surfing while sucking off the public teet.
Fail.
“nobody has an incentive”
I gave an example of Terry & Paul having to pay a grand total of $1,200/year on $1.7 million in net worth.
Every day workers show up at thousands of McDonald’s to work, few of who will ever see half of $1.7 million.
The incentive I’m trying to create is to get government in DC and elsewhere under control.