People will just sell their possessions to the largest corporation around and then spend their remaining money on something wasteful. Others will try to find loopholes such as buying products from your daughter's company or simply smuggle their assets.
Proposals like this also usually do not address what should be done with the tax revenue. It's almost guaranteed that it will be used for something that increases wealth inequality, because as it is right now that is the default state.
Proposals like this also usually do not address what should be done with the tax revenue. It's almost guaranteed that it will be used for something that increases wealth inequality, because as it is right now that is the default state.