[ianch99]

Originally Posted by tweetiepooh

Taxing wealth sounds like a typical leftist mechanism on success. I think the focus maybe should be on ensuring that the very high earners pay the proper tax on income, against that of course is if too draconian they just move elsewhere.

You are missing the obvious point here and that is the high net worth individuals proactively avoid income as you & I would define it. They have a myriad of vehicles to minimise their tax burden. This is why it is the increase of their total net worth that should be taxed at the same rate (or higher) as P.A.Y.E individuals.