I think it's a great idea. Every asset not being put to use, is similar to hoarding cash under the mattress - a waste of capital.

Except that it isn't. Generating income isn't a prerequisite to putting assets to use.

Why is that bad? Asking purely out of ignorance.

Just off the top of my head:

- It causes wealth to consume it's own base, depreciating all assets faster even in lieu of inflation

- It disproportionately punishes seniors, who are asset rich and income poor.

- It encourages the wealthy to move and hide assets offshore just like they do with income.

- Double taxation: Wealth is already taxed when it is created

- Punishes asset rich, low income businesses like grocery stores, farms, etc.