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> Second point against a pure wealth tax: some of that wealth might be tied up in very illiquid assets

Isn't this an argument against real estate taxes in general, which are universally accepted? There are mechanisms to recover those taxes eventually.

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Right. For example, if we don't like the idea of someone with wealth but no income needing to sell off part of their land or stocks every year, we could attach a debt to them that would be paid later when they eventually do sell some of their assets, or upon their death, etc. This could be arranged like a government loan with a low fixed interest rate, so if they wait 10 years to pay their taxes they'd owe their taxes plus some reasonable interest rate.

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