> You don't have to like it, and people are free to whine about it, but in reality it's a problem only if you don't know what you're doing.

Maybe? Or maybe it's just a PITA that most people don't want to deal with? It's not nice when you company is doing well, and your reward is having to pay a bunch of extra taxes and deal with financing all that somehow.

At least, I find paying income/value-added tax a lot more palatable, since it's always over money you just received, not money you have to conjure into existence somehow.

Of course it's not fun to have to pay. At the same time the vast majority of the wealth tax is paid by a vanishingly small proportion of society that mostly pay extremely little in income tax despite being some of the richest people in the country. It's effectively largely plugging a loophole.

At the same time there is a significant social good in encouraging efficient investment of capital. If someone can't get returns sufficient that the wealth tax is nothing but a minor nuisance, it's better that capital gets distributed elsewhere.