Sounds like a great way to stifle investment, have the State take property away from individuals as penalty, and to generally legalize the penalizing of success, savings and investments, over, and over, and over again.
You may be interested to know that most assets, not exactly liquid. Tax based on your non-liquid assets (for example, your home, car and retirement accounts) is a great way to have a tax bill you can't afford, forcing you to sell those assets to pay for the tax on them. Brilliant, instant conomic activity!
We won't get into the evil that is the idea of being taxed again and again for the same assets/money you've already been taxed on.
Here's an idea, why not start from a position where "spreading the wealth around, i.e. economic communism" is NOT the starting point for policy. Is it so hard to understand that what I earned is mine, what you earn is yours, and I (or you) do not ow you (or me) anything?