A wealth tax is a tax levied on the net fair market value of a taxpayer’s assets.
Wealth tax applies to the net fair market value of all or some types of assets owned by the taxpayer, including cash, bank deposits, shares, fixed assets, personal cars, real estate, pension plans, cash, owner. -occupied housing and trusts.
France, Norway, Spain and Switzerland have wealth taxes.
US politicians have proposed a wealth tax as a way to share the tax burden more fairly in a society with huge economic inequality.