From the American perspective, they still have too much to spend on corrupting politics and justice hiding behind "spending money is free speech." There needs to be a 90% tax bracket and we should subject capital gains to normal tax brackets if percentage of gross income is, say, 50% or higher. This makes more sense to me versus total wealth tax. Also reinstate a meaningful inheritance tax (aristocracy-prevention tax)
The lack of a wealth tax means they just get to pick and choose when they take their income out of their assets, always at the most favorable time. Capital gains going up wouldn’t make much of a dent in someone paying under 5%.
