Should we be more open to a wealth tax?

I'm up for taxing wealth, but to think it's possible to tax the apparent wealth of the rich is a bit naive because the wealthy carefully distribute their wealth in assets (land and property) which it would be hard to value, in networks of companies in a way which make it difficult to identify just who ultimately benefits from the wealth, in trusts, in offshore accounts, in tax havens and in equities (stocks and shares) which continually vary in value. A prime example of the latter would be Elon Musk who was recently declared to be a trillionaire on the strength of the initial sale of shares in his company, but who is no longer a trillionaire because the share price dropped once trading them started.

All in all, it might cost so much to establish the amount to be taxed, and time, as lengthy appeals to the tax law would inevitably arise. The actual tax take could be quite underwhelming.

While some unhidden wealth could be taxed fairly easily it would be better to concentrate on a progressive tax regime which prevents them acquiring so much in the first place. It was done post WW2 and significantly caused progress to a more equitable distribution of wealth, progress which has, with the implementation of different economic policies, been almost reversed, we could usefully look to the post WW2 policies for ideas.

I appreciate that with the growth of the 'global economy' with foreign corporate bodies sucking so much wealth out of individual nations which they carefully arrange to be taxed in low tax jurisdictions, rather than in the jurisdiction where it is 'earned', this has added a level of complexity, but there is still much that could be done domestically.

Yes.
The very rich pay very little in comparison with what they have and the likes of most of us pay a lot compared with what we have.
Unfair.

Yes we should.

Of course.

Of course. The wealthiest only pay a tiny percentage of tax on their unearned income from wealth, in fact some pay zero on their billions, unlike the rest of us who pay a much larger % of our overall income.

A very interesting video!

Totally depends on the definition of wealth.

Yes