[Mick]

Not sure we can do a wealth or asset tax given the number of Americans with foreign assets and lack of ability to compel discovery, so to speak, in some jurisdictions outside the USA.  (If you can't enforce the law, then the law is not worth having, so they say.)  Philosophically, I'm not sure the idea of taxing asset ownership is very palatable, even if you restricted it to taxpayers reporting net worths greater than, say, $5mil.

There are very effective ways to sidestep the inheritance tax as currently written, and I am not sure how you would put teeth into a more comprehensive inheritance tax framework (but yes, I agree that the idea is nice).

I think after four years of Trump and his tax cuts, the voting populace will be screaming for ways to even out the playing field.  Estate taxes and wealth taxes are two such methods.  Elizabeth Warren suggested same, and whether or not she is the VP candidate (as I think she will be), I think that Americans are ripe and ready for new tax legislation aimed at the rich, the super rich, the filthy rich, and -- when you boil it right down -- the upper middle class and the middle class.  New taxes for all.

[Mick]

Not sure we can do a wealth or asset tax given the number of Americans with foreign assets and lack of ability to compel discovery, so to speak, in some jurisdictions outside the USA.  (If you can't enforce the law, then the law is not worth having, so they say.)  Philosophically, I'm not sure the idea of taxing asset ownership is very palatable, even if you restricted it to taxpayers reporting net worths greater than, say, $5mil.

There are very effective ways to sidestep the inheritance tax as currently written, and I am not sure how you would put teeth into a more comprehensive inheritance tax framework (but yes, I agree that the idea is nice).

I think after four years of Trump and his tax cuts, the voting populace will be screaming for ways to even out the playing field.  Estate taxes and wealth taxes are two such methods.  Elizabeth Warren suggested same, and whether or not she is the VP candidate (as I think she will be), I think that Americans are ripe and ready for new tax legislation aimed at the rich, the super rich, the filthy rich, and -- when you boil it right down -- the upper middle class and the middle class.  New taxes for all.