The factual data on wealth taxes not being effective is so overwhelming that even the Labour party aren't doing it. They simply don't work. Over 60,000 millionaires left France during the wealth tax and it raised a whopping 0.5% of tax revenue when implemented, which was obviously cratered by the opportunity cost of having 60,000 millionaires living in and spending their money in the country beforehand.

Boring gimmick.