> A wealth tax will yield revenue for the next thirty years at 30 times what it will yield this year.

Isn't this the opposite of how a wealth tax works? The annual turnover for e.g. Apple stock is ~0.4%, so a 0.8%/year wealth tax would triple the number of sellers without adding any new buyers. The negative effect on the price is outsized because most people hold long-term rather than buying or selling in any given year, but now people have to liquidate some every year in order to pay the government because you're taxing unrealized gains. And then because "wealth" is calculated as share price times number of shares, when the share price goes down, everyone's "wealth" goes down and with it next year's revenue from a wealth tax.

There would be some limits on that in terms of the compounding negative effect on the share price because (among other things) if the price went down then foreign investors would find it more attractive to buy in and then they're not subject to the tax and don't have to sell every year to pay it, but causing more of the market to be owned by foreign rather than domestic taxpayers over time is also not a thing which leads to stable domestic tax revenue.

> $6.6 billion will end world hunger but $100 billion is better spent on a train between Bakersfield and Fresno.

The current UN estimate is more like $100 billion a year to end world hunger, whereas the initial build of a rail line is a one-time cost.

Some disjointed thoughts of mine on this topic:

Some people have to adjust their mortgage in order to pay property taxes. Most people pay property taxes out of their income.

What percentage of Americans, especially home-owning Americans, have more wealth in the stock market than in their home?

Property tax has the positive effect of encouraging efficient land usage and discouraging speculation and rent seeking. Is there a parallel case to be made for stock holdings, or is such an argument dead in the water because land is more tangible than company shares?

The purpose of wealth taxes is redistributive, not revenue maximization of a spherical cow.