Over the past year or so, a "wealth tax" has become the new rallying cry among the Democrats and socialists of American politics. I see this as a misguided response at best unless its advocates are willing to acknowledge the distinction between political plunder and economic productivity.
In a voluntary exchange, both parties benefit. Focusing on the monetary half of the exchange skews your perspective and ignores the rest of the equation. Market transactions are mutually beneficial. One party gains money, the other goods or services they value more than the money exchanged. It is a win-win positive-sum game at the core.
As for those who benefit from political plunder, we need to dismantle the intellectual property protections, subsidies, protectionist regulations, bailouts, and other policies by whichbthey gain illicit profits. They will collapse on their own without such support, and that is true justice.
Demanding more centralization, authoritarianism, bureaucracy, and theft is not compassionate or equitable. Remember, the income tax was sold over a century ago on the same basis of only affecting the ultra-rich who gained windfall profits because of their powerful connections, and needed to pay their fair share. Now all of us are expected to fill out forms every year for the IRS, and most perversely see a refund check as a windfall.
The political class is the enemy of a free people, not those who earn above some arbitrary sum. There is significant overlap, I agree, and perhaps it us impossible to become a billionaire without state support, but I don't trust anyone who bases their political position on a foundation of envy, hate, and greed.