This is less politics and more first principles really. If we can arrive at the thesis that super wealthy people are more lucky than skilled [1] [2] [3] [4], we should build systems around the idea that there should be limits around the shared delusion of what wealth is. This is a bit like copyright, where the incentives were well intentioned, but the system and outcome has come off the rails.
Failing that, a central bank can inflate away wealth, depending on the desired outcome, circumstances, etc. Wealthy equality printer go brrrr.
[1] https://www.theguardian.com/business/2024/apr/03/all-billion...
[2] https://www.theguardian.com/books/article/2024/may/04/scott-...
[3] https://ustrustaem.fs.ml.com/content/dam/ust/articles/pdf/20...
[4] https://blogs.scientificamerican.com/beautiful-minds/the-rol...
https://www.stlouisfed.org/institute-for-economic-equity/the... (obligatory St Louis Fed Wealth Inequality citation)
Unless you're only going to hold investment assets in Monaco while trying to relinquish US citizenship and not pay an exit tax? I suppose if you pull up stakes, don't pay US income tax, and don't step foot financially in the jurisdiction, you might be able to avoid this depending on your window of time between that decision and death.
It's not and its probably not intended to be; its staking an extreme position to spur and frame discussion.
