I completely and disagree with that. I think it's wrong on every level.
First, taxes on wealth are extremely poor at actually collecting tax. It's quite difficult to not work, or to not buy anything, so taxes on employment and on spending are very efficient with extremely high collection rates. Unlike taxes on wealth.
The latter cause people to change their behaviour, because guess what, no-one like paying high rates of tax. So if you have a million in an investment account and were planning on liquidating some of it, then if the capital gains tax is too high, you don't bother. You sit on your money waiting for the day when the rate might be lower or the allowances higher, so often less tax is actually collected than before the rate went up.
And taxing people on all their assets is extremely expensive and difficult to calculate. What is YOUR net worth? I have no idea what mine is. How on earth is the HMRC supposed to work that out? They'd need years and an army of people and it would be open to huge amounts of tax evasion with people with vast undeclared assets.
So, no, wealth taxes don't work. But then there's my second point. They are grossly unfair. People go about their daily lives and they earn money and unless they are criminals, they pay their taxes in full compliance with the law. Some of them get rich by their efforts and have wealth that they have accumulated fair and square. What right do you have to say "look at that bloke, he's rich, let's have some of his money off him". It's completely immoral. Legalised theft.
So it's wrong pragmatically and wrong morally. It's just a really bad idea.
Honestly, you just can't see whats happening.
The rich are getting richer, and the poor are getting poorer. Neoliberalism has facilitated that.
At some pont in the future, their increasing wealth will be enough to impact your life in a negative way.
You are, literally, spouting the nonsense they want you to believe, with all the propoganda they sponsor in the media they own and echoed by the politicians they own.
I'll tell you what theft is. Deca millionaires and billionairs taking money for goods and services from people that can barely afford them, making huge profits from those barely affordable payments, and paying themselves huge salaries and bonuses to enrich themselves to such a degree they have absolutely no use for all the money they have amassed. Back street money lenders operate like that. It's like collecting stamps to them, money for money's sake, and for the life of me I can't understand why you want to protect that position when it will come and bite you in the arse at some point in the future.
What is immoral is the way they have conditioned the ordinary person into accepting taxing them is wrong. It isn't.
In the years wealth was taxed, we had social programmes that worked, food banks didn't exist, ordinary people enjoyed having an increasing standard of living, and the wealthy weren't penalised to the extent you may imagine.
If you don't believe they should be taxed in a fair way, then say hello to increasing struggles in your life.
They really don't care about you, but appreciate your support.