This is a pro net worth tax implementation argument but they do bring up some of the complexities of actually implementing it.

One factor that may partially explain why the United States does not have a federal net worth tax is that there is debate as to the constitutionality of a federal net worth tax.

Estimates of the revenue raised by a net worth tax are highly uncertain, as they depend on both the detailed specification of the tax and assumptions about how families would respond to the tax, for which little guidance is available in the academic literature. One important ingredient in this estimation is the elasticity of taxable wealth, which summarizes the various behavioral responses to the tax. Those responses affect the amount of wealth that taxpayers would report on their tax returns. To reduce their net worth tax liabilities, high-wealth individuals might, for example, hide wealth abroad or increase their spending [[thus reducing their wealth).

https://equitablegrowth.org/wealth-t...rk-in-the-u-s/

So basically it sounds good when we say,tax the rich but implementing it is a whole nother animal.

It is easy to see the ramifications of doing so by looking at what happened to other countries when they went down that road.