Do you think billionaires are swimming around in a pool of gold coins or pallets of $100s? Nearly all of the wealth that people are complaining about is on paper. Jeff Bezos owns a bunch of Amazon shares.
I've seen this argument before, but selling some of his shares to pay taxes doesn't matter to Amazon as a company.
If you raise the capital gains tax, he'll just never sell those shares.
That's why we have a "wealth tax": Bezos would pay 1.76% of his wealth in taxes
each year if he'd live here.
Then again, being that rich you'd find ways around it and wouldn't pay the tax anyway.
Exactly, the higher the taxes, the more avoidance. Also, a wealth taxes is outright confiscation and is against everything free democratic societies stand for. I don't know where you live but I'm guessing there are not a lot of rich people there.