I'd be perfectly eager to take that side of the debate if you want to argue about it, but that isn't really what the topic was in this thread. I was observing that subjecting yourself to a voluntary wealth tax could reasonably be a worse option than taking a risk of losing everything in one ugly crash.

That isn't a crazy position. It does require a tolerance of risk.

> Without printing money we need to raise government revenues by close to 50% which is a rather drastic increase in taxation.

People are already paying that tax though - the wealth that the government is moving around had to come from somewhere. We know the government isn't creating it otherwise there'd be no need for the money printing to happen. We just aren't sure who specifically is paying how much.

So it would be a drastic increase in observed tax, but probably not a big change to most people's lifestyles.