Wealth tax

Recently it was suggested that the very rich pay higher taxes in some form of wealth tax. Since most of these wealthy people have most of their assets in company stock it means the sale of stock. This past week Elon Musk sold $6.9 billion in stock to pay taxes. This resulted in a 20% drop in the stock price. While this does not hurt Musk since he still owns billions of shares it has an effect on the other stock holders who may not be so wealthy including many pension funds. This is what happens when large blocs of stock are sold. When the rich pay their taxes the ordinary investor loses.