A 2% annual tax on that wealth would cover all of what we currently spend on Medicare without anyone else paying a dime. And that wealth would still continue to grow. We can't afford not to tax them at this point.

It’s a tax on capital, not wealth. A farmer whose farm produces enough crops to value the farm at $1b doesn’t have $1b cash in the bank or $1b in profits per year. Their management of the farm relative to everyone else is what values it at $1b. They would have to sell 2% ownership of the farm to cover the tax. So the better they are at management the more of their own farm they need to divest.