... a 25 percent tax on all wealth over $100 million, estimated to apply to just 0.01 percent of Americans.

It also proposes levying an unrealized capital gains tax for the first time in US history. Much of the power and influence that the ultra-wealthy wield comes from the value of the assets they currently own. Elon Musk, one of the richest people on Earth, was able to buy Twitter for $44 billion not because he had that much cash in a savings account, but because he was worth north of $250 billion and owned so many valuable assets, such as his stakes in Tesla and SpaceX, that he could leverage to finance the deal.