The wealth of the rich is not in cash

The pharaonic wealth attributed to the rich is primarily tied to their assets, not liquid cash. Taxing wealth effectively would require cash buyers, but if all wealthy individuals are selling, who would be able to buy?

The rich hold most of their wealth in assets such as stocks, real estate, and other investments, rather than in cash. Taxing these non-cash assets presents significant challenges. If a wealth tax were implemented, it would necessitate finding cash buyers for these assets. But if all wealthy individuals were forced to sell, who would purchase these assets, and at what price? The expected tax revenue might be minimal, if not entirely absent.[1]

Full explanation: How the Economic System Impedes the Fight Against Global Warming.
Original idea: Is It Possible to Completely Eliminate Taxes on the Green Economy?