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Old people with no income but high net worth from a life time of hard work, would be forced to sell their houses and live on the street
All bonds, shares, loans and other forms of investment paying less than 6% would be made worthless overnight. Causing the economy to crash
People would be unable to raise capital to start a private buisness, as owning shares in a business would cost more than the dividend paid
The public debt is in the form of Government bonds which pay less than 6% interest. Taxing ownership of those bonds effectivly lowers thier value and would cause the interest rate and hence total government debt, to increase
Not paying this tax is a great idea. As once you owe more than your gross value it drops to nothing
People already have private debts.
With this tax, you will decrease the public debt, but increase the private debts.