i really appriciate your honesty jake, i'm also not that "smart" to say what would the real consequences be if USA would tax the richest people

guess they'd simply leave same way all those celebrities who threatened they would if Trump got elected in 2016

What’s wrong with wealth taxes?
There are many objections to taxes that target the rich. Read this comprehensive debunking by law professors Lily Batchelder and David Kamin.

Most fundamentally, some people say, taxes on wealth would destroy capitalism, or at least slow the growth rate. A wealth tax would reduce incentives for entrepreneurs and thus kill innovation and technological progress, they argue. It would punish success.

Higher taxes would be unfair, they say. We’ll always have poor people, so why buck human nature?

Furthermore, some critics say imposing a wealth tax would be futile, because the rich have the means to escape any tax, by moving their assets abroad, hiding them, or employing innovative lawyers, accountants and lobbyists to create and take advantage of loopholes.

Let’s examine each of these issues.

• Would a wealth tax destroy capitalism?

No. Capitalism been quite successful under many tax regimes. Wealth inequality was much lower in the U.S. in the 1950s and 1960s when the rich were taxed heavier, yet capitalism prospered even as workers received a greater share of a growing pie.

Extreme wealth seems to flourish when competition breaks down. Rent-seeking behavior leads to an inefficient economy.

While the rich are buying art, purchasing fifth and sixth mansions, forcing corporations to hand over more of their profits and keeping the equivalent of the annual federal budget under their mattresses, many needs are unmet. It brings to mind Abraham Lincoln’s exasperation at his idle general: “If General McClellan isn’t going to use his army, I’d like to borrow it for a time.”

Perhaps we the people could employ some of that spare cash that’s lying around, because the rich certainly won’t miss it.

• Would it destroy innovation and the drive to excel?

Money is a great motivator, but not the only one. Most successful people want more than money: They want to be the best, they want to build something, they want to solve a problem, they want to be their own boss, they want to be famous.

They want to achieve, and money is only one way of keeping score.

A wealth tax wouldn’t reduce any of those other motivations; in fact, it might encourage the notoriously slothful offspring of millionaires to attempt to do something with their lives.

• Would a wealth tax punish success?

You’d rather tax failure? Good luck! More seriously, taxes are not punishment, but the cost of living in a civil society.

• Would they offend the natural order?

There’s nothing natural about concentrated wealth. The economic system was made by humans, not by God, nature or an invisible hand. Money and political power shape the structure of the economy, determining which property rights are respected and which are trampled.

• Are taxes on the rich unfair?

The poor are constantly being reminded that life isn’t supposed to be fair. Get over it.

• Would a tax on wealth be double taxation? Once as income and later as wealth?

Double taxation is common enough already. I’m taxed three times on my income (federal and state income taxes plus FICA for Social Security), and then again on my purchases, and once more on my property, so this argument is a red herring. Furthermore, much of the wealth of the extremely rich is never taxed, not even once. The wealthy delay realizing their capital gains to avoid paying a tax, and then pass on their property to charity or their heirs, all without ever seeing the tax collector.

• Wouldn’t the wealthy be able to lobby Congress to write lots of loopholes into a wealth tax so it would be easy to evade paying?

Bingo! Of course they could, which proves the wisdom of taxing large fortunes. Billionaires and multi-millionaires have scads of political power and can often bend the law to their desires, which is hardly democratic. Money begets power, which is a good enough reason to put some limits on how much any one person or family can acquire.

taken from [link to www.marketwatch.com (secure)]

60% of USA wealth is inherited means people who nevere worked a single day are controlling everybody's lives

top 1% in America have more money than bottom 50%

that just has to stop one way or another