there is no objective way to calculate and appraise all wealth, so such discussions are meaningless inherently, the touching of said assets would immediately change its value, which would require recalculation, which would change the value again, etc.
the only true way to do it is to tax upon realization, which is already what happens.
This is a bizarre argument. You can can throw your hands up and say it’s too hard or actually do something. Property tax, property sales tax, taxing capital gains, etc.
the only true way to do it is to tax upon realization, which is already what happens.