Yes the wealth tax is definitely the ultimate evil. I would prefer the tax to be automatically be applied when we buy something and we don't pay extra for anything else. This means that the wealth will be paying the same percentage and there isn't all those loopholes to cheat your way out of paying taxes.
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Yup, wealth tax not only taxes the same money again and again, but it punishes saving money and being responsible. Better to tax consumption as you suggested!