I disagree that r > g over long periods, rather there are some periods where it is less and others where it is more and it basically averages out to r = g. If you do not believe that, then you have to think that capital income will be larger than GDP, which is mathematically impossible, as capital income is one component of GDP and the ratio is relatively stable over time.
More importantly, it does not matter at all whether r > g, because both capital income and wage income are taxed. If you don't believe that, try not reporting your capital income and see how that works out.
However, you will say, long term dividend income is taxed at a lower rate, whereas wage income is taxed at a higher rate. Correct! That is why I said that the solution to that is not to impose a wealth tax, but to tax them at the same rate. All market income should be taxed at the same rate, and that solves your r > g non-problem.
More importantly, it does not matter at all whether r > g, because both capital income and wage income are taxed. If you don't believe that, try not reporting your capital income and see how that works out.
However, you will say, long term dividend income is taxed at a lower rate, whereas wage income is taxed at a higher rate. Correct! That is why I said that the solution to that is not to impose a wealth tax, but to tax them at the same rate. All market income should be taxed at the same rate, and that solves your r > g non-problem.