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"Confidence is what you have before you understand the problem" is a catchy phrase attributed to Woody Allen. It’s also the way that Iraj Abedian, CEO of Pan-African Capital, thinks about the catchy concept of a wealth tax, which has been touted as a way to raise a war chest to fight Covid-19.

"It sounds so simple, but that’s deceptive. We don’t even have agreement on how to define wealth, never mind how to practically tax such a malleable concept. To talk about instituting such a complex tax now, in the middle of this crisis, just won’t work," says Abedian...

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