I think this is where at least talking about rather than a wealth tax a usage tax. Now some will fall through the cracks as a billionaire that lives like a middle class person would be taxed as such but that could be viewed as fair since the assumption is at some point the wealth will be spent and taxed. The trick of a usage tax though is some kind of baseline income or offset to prevent the inevitable result of permanent poverty as rich have the safety net of wealth and a usage tax just encourages them to hoard more and distribute less to employees.