Comment by Schiendelman

I think that's a very different goal post. We were talking about the social contract, publicly funded services. You must realize it's just not a meaningful amount, right? That was my initial point. If you want a real safety net, you have to tax the middle class, and a lot.

That's not really how that works. Almost all of that money is tied up in operating businesses. Most very rich people mostly hold investments in stock - and generally at large companies. That's debt, not an asset I think the way you're thinking of. Overall, taking that money out of market holdings reduces the value of those holdings, for everyone else as well. You really end up lowering the retirement savings value of everyone who has a retirement plan by some amount.