Ricketty - Again!

Came across this post from Piketty. As it happens I am interested in Tobin and have signed up to Robin Hood. So I am not against using fiscal means (transaction tax) to try to control the banks. If that is what he means. Rather, it is this concluding paragraph that fills me with despair. He says:

'The political strategy which consists in transforming the wealth tax into a property tax (impôt sur la fortune immobilière), to avoid a complete suppression of the wealth tax, quite frankly leaves me speechless. There is no logical reason to levy a higher tax on a person who invests their fortune in a house or a property rather than in a financial portfolio, a yacht or any other type of good. We can only hope that elected members remember that they were not elected to be part of this kind of farce.'

My god - Mr Ricketty. Logical reason? How about Land and Rents are not merely 'Capital' for starters!