Wealth taxes are taxes imposed on the net worth of individuals or households. This means that the tax is based on the total value of assets, such as real estate, stocks, and savings, minus any debts. The goal of wealth taxes is to reduce economic inequality by redistributing wealth and generating revenue for public services. Countries like Spain and France have implemented wealth taxes, while others, like the United States, have debated their effectiveness. Proponents argue that these taxes can help fund social programs, while critics claim they may discourage investment and savings.