A wealth tax is a type of tax imposed on the net worth of individuals or households. This means that it targets the total value of assets owned, such as real estate, stocks, and savings, minus any debts. The goal of a wealth tax is to reduce economic inequality by taxing the wealthiest individuals more heavily. Countries like Spain and France have implemented wealth taxes, while others, like the United States, have debated their effectiveness. Proponents argue that it can generate revenue for public services, while critics claim it may discourage investment and savings.