That’s fine, but you really don’t need a wealth tax to fund education and infrastructure. A sovereign currency issuer can create their own money. There’s no reason why the US government couldn’t just create $5 trillion to fund those things you mentioned. And I know you might say that would cause inflation, but I don’t see how $5 trillion being created would cause more inflation than getting the $5 trillion from a wealth tax. Either way, the same amount of money is being spent on education, health and infrastructure. Plus, with the wealth tax, the billionaires would have to liquidate a lot of assets to get that money to pay the wealth tax, and that could cause a crash in asset markets.
That’s fine, but you really don’t need a wealth tax to fund education and infrastructure. A sovereign currency issuer can create their own money. There’s no reason why the US government couldn’t just create $5 trillion to fund those things you mentioned. And I know you might say that would cause inflation, but I don’t see how $5 trillion being created would cause more inflation than getting the $5 trillion from a wealth tax. Either way, the same amount of money is being spent on education, health and infrastructure. Plus, with the wealth tax, the billionaires would have to liquidate a lot of assets to get that money to pay the wealth tax, and that could cause a crash in asset markets.