Many countries have tried taxing net worth. The result is always the same: billionaires leave the country and investors think twice about building a business there...which means less jobs and a worse-off economy for the rest of us.
The government just isn't good at innovating and will waste that money on 'administrative costs'.
The funny thing is that the rich already pay the majority of federal taxes in the US. This isn't including all of the people they employ that are also contributing taxes to the government till.
It never seems to be enough because all of that money is pissed away and nobody is ever held accountable.