Wealth vs. Income Taxation:

In the US at the national level and with rare exceptions, we tax only income (transactional flow.) Our federal government does not tax wealth in terms of property or funds invested or in banks.

• Why do you suppose this is the case?
• Has it had the desired reinvestment effects? If so, then why do we still have the largest income gap in our history with the very wealthy top percent of citizens receiving the lion's share of income and holding the vast majority of personal wealth?
• How do other capitalist countries address this issue of taxing wealth and not just income? (Please mention at least one.)
• How does their system provide more parity?
• How has this affected their economy, if it has?