That must not be a factor as it would only serve to wildly inflate already unequal cost of living disparities. The only way to fix poor or too expensive market conditions is an economic correction and those always hurt someone.
True. I was not even thinking internationally - I defaulted to my french POV...
From a French POV, experience has shown that punitive wealth taxes achieve only one thing and that is to make those who can afford it move abroad for tax purposes.