Should we tax billionaires' wealth, not just income?

Extreme concentrated wealth gives billionaires public-system benefits and market power that income-only taxation often fails to capture.

Taxing only realized income lets billionaires accumulate vast untaxed wealth through unsold assets, so an annual net-worth tax is needed to make the very richest contribute their fair share.

A wealth tax addresses systemic inequality by ensuring the ultra-wealthy contribute based on their true economic power rather than just reported income.