The wealth tax argument actually is because our current 2 party political system is set up to where politicians effectively "pay" their corporate constituency with their discretionary spending, which has increased the national debt substantially.

The only way this system can continue is if we increase the receipts (aka tax revenue).

The political class has very wisely targeted "the wealthy," who are capable of tactically avoiding taxes, but as always it will eventually include the middle class who will ultimately be paying the tax. From their standpoint they will popularize this tactic because it will work

This is being sold as class warfare, but its really the evolution of our political system into an unsustainable system of patronage with public funds.

We have plenty of other problems like "buy, borrow, die" (discussed elsewhere in this thread), but ultimately the wealth tax stems from needing more public funds, which stems from politicians spending all of our money.