Wealth tax

A wealth tax is a tax on people who have a lot of money. The tax is only applied to people who have over a certain amount of money. The way it works is that the government comes and counts up all the money and property you own (this includes things like stocks, savings, and investments, but not things like your house, car and other things you need for day-to-day life). If you have more money than the government says you do, then you have to pay them a tax. The amount you have to pay is based on how much more money you have compared to the amount that the government allows. The purpose of a wealth tax is to make sure that people with a lot of money pay their fair share of taxes and help to support the people in their community.