Worldwide systemic inequality is an unavoidable fact. To pluck one statistic from many, Federal Reserve data from June 2021 showed the top one percent of Americans have fifteen times as much wealth as the poorest 50 percent.

Where policymakers get into the weeds is how to correct this issue. One solution is a wealth tax, on a global or regional level, in which HNWIs and UHNWIs will see a percentage of their current wealth given over to the government on either a one off or recurring basis...