The USA tries to have a worldwide tax jurisdiction, and fails at it

The Large global companies spend millions on ultra complex business structures to avoid US (and EU) taxes.

See GE and Apple as the most publicized examples but they all do it

Oh, certainly. However, if the US political climate ever reaches the point where a wealth tax is seriously considered (something which would require a constitutional amendment), I very much doubt these loopholes would still exist.

That's a problem with ad valorem property taxation, but not a problem with taxing capital income.