re: Warren’s 6% wealth tax is equivalent to an income tax of well over 100%

Warren would collapse the economy not unlike Venezuela's.

That depends on your total amount of wealth. Presuming you are a billionaire in net worth before taking into account the land, then you would pay 6 percent on the value of the land. (It would be 2 percent if net worth is just 50 million). You have no tax if you have lower net worth than 50 million

As previously mentioned, there would be constitutional issues. The SC has already ruled the Constitution doesn’t allow for direct taxation that is not apportioned among the States LINK to Pollock. The16th amendment solves this for income but not wealth

Moreover, there are practical problems. In the early years, state taxes were mostly all faculty taxes, but this created massive problems on valuation, avoidance and assessment. LINK SALT still has these problems with property taxes even when not based on faculty and we have learned ad valorem and income taxes are easier to administer