Comment by mercutio2
Wealth taxes are very, very different from higher income taxes.
People are mad about buy-borrow-die, so they’re proposing extraordinary new measures.
Personally, I’d just make capital gains taxes apply at the “borrow” stage to actually fix the problem. That would have a host of compliance issues but they’d be localized in the finance industry which already has an army of people figuring out compliance.
But they made exactly the same arguments against it, and it was bullshit.