I think it is more disingenuous to focus primarily on the outcome rather than the underlying causes of the issue.
Yes, older homeowners like your parents benefited from house price inflation. Mine didn’t. But people like them did not create the conditions that drove it. The real drivers were decades of cheap credit, constrained housing supply, planning restrictions, demographic change, institutional investment, housing increasingly being treated as an asset class and an economy becoming overly reliant on asset inflation.
No major party has really shown it has a credible long-term answer to this.
Tax should be a useful tool, not a blunt-force sledgehammer. A reasonable solution needs to focus not just on the visible outcome, e.g. your parents sitting in valuable homes. There is almost no focus on the structures, incentives and policy decisions that created the situation in the first place.
I am not against tax but just against “tax everything”. Questions should be as about whether the wider system is effective at deploying money effectively: infrastructure, education, productivity growth, sustainably lifting people out of poverty and ensuring people are genuinely rewarded for work and/or their contribution, e.g. carers.
IMO the system is increasingly pushing more costs and risks onto individuals and the public whilst reducing their opportunities to achieve any meaningful level of security or control. Ownership of assets and the means for financial independence are increasingly concentrated amongst large corporates and institutional investors, with profit extraction often left largely unchecked.
Water, transport, healthcare contracts and long-term public liabilities are all real-world examples where households and taxpayers often end up carrying more of the burden over time, whilst significant private gains have already been extracted.
Why aren’t you asking about capital leakage, policy failures, inefficiency or whether money is actually reaching the areas that generate the greatest long-term benefit for society and the wider economy? Why reduce everything down to “someone has something you do not, therefore tax it harder”, whilst the deeper structural problems remain largely untouched?