I think what limits its effectiveness is mostly that it’s only the NL doing it. If it was EU wide, or even US-wide, the world would change a lot.
Even if it’s not perfect now, I see that it is good that this tax exists for two reasons:
At least it’s not taxing wages or consumption, which affect everyone but billionaires.
It serves as a model for going in that direction, so neolibs can’t easily say there is no way to tax assets, or that taxing assets would crash the economy.
I think what limits its effectiveness is mostly that it’s only the NL doing it. If it was EU wide, or even US-wide, the world would change a lot.
Even if it’s not perfect now, I see that it is good that this tax exists for two reasons: