Shankar Narayan, it's not happening anytime soon because there is not the political will or capital to tackle it. Not a reason for not discussing it though.

Another direction we could go is a VAT (value added tax). All income and corporate tax could be rolled into this (a financial transaction tax could be a part of this possibly). But a VAT would simplify the tax code for most Americans including businesses. Corporations buy stuff just like you and I and so tax would be collected from all businesses whether they are showing a profit or not (eg. Amazon). Because the VAT is a flat tax it would need to be put in harmony with a generous basic income for all.

Your right the wealth tax is a non working idea. For starters, it would be an absolute nightmare to collect. The auditing involved would be an Elizabeth Warren dream.

Many thanks