> If by "wealth" you mean "net worth", then because that is even harder to administer than income taxes.
That is the standard argument, but countries have been taxing property a lot longer than they have been taxing income. Some even manage to tax property at current market prices (e.g. Canada).
> That is the standard argument, but countries have been taxing property a lot longer than they have been taxing income.
That countries have been taxing selected forms of property longer than they have been taxing income is in no way inconsistent with taxes on net worth being harder to administer than taxes on income (and even if they had been taxing net worth longer than income, it wouldn't be), so that's not even a counterargument.
That is the standard argument, but countries have been taxing property a lot longer than they have been taxing income. Some even manage to tax property at current market prices (e.g. Canada).