Economy

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Cash is easy to count, but what about all those homes, cars, private jets and investments? Not to mention art collections or the contents of safety deposit boxes. This becomes more difficult and costly if it needs to be done every year.

This is a weak argument because it's an all-in type of thinking. We have to tax all of these things, or non of these things. That's bullshit. Legislation can start with the easiest to tax, homes, cars and jets. Hell unrealized gains in the stock market can be taxed, debt that use stock value as collateral can be taxed as a form of income for the individual. Then there is the argument that the wealthy will just move. Why is that a problem - it's not like the region they were moving from is losing out on tax revenue. If they take their business with them couldn't that open opportunities for others to fill in that gap with new similar businesses?

Also on the art collections and safe deposit box contents - that's call an inheritance tax. It doesn't need to be annual.

This article skims the surface with a "well its difficult so what can you do?" attitude.