How would a global wealth tax work?

It’s said that the top 1% own more wealth than the lower 50% in the United States. Also that the top 10% owns 70% of its wealth. If you take a global perspective, you could say that the top 1% of global wealth holders are more wealthy than the global lower 50% of wealth holders. Not just in the United States, but globally. <br><br>Imagine you’re a traveler. You’ve been to 50 countries. You’ve seen the wealth of the developed parts of the world, but you’ve also seen the poverty of the poor parts. You’ve seen the wealth distribution inequality of the USA, but you’ve also seen that of the less developed countries. Not just within countries but between countries. <br><br>If we can implement a global wealth tax, we could eliminate poverty globally. We could lift billions who are struggling to survive up to a dignified standard of living. The global top 1% would lose less than 5% of their wealth. Can we dream of a future where the ultra rich and powerful are no longer able to hoard wealth to the detriment of the lives of others?<br><br>How would a global wealth tax work? <br><br>What would be the economic side effects of a global wealth tax? <br><br>What are some possible arguments for and against a global wealth tax?