Comment: facepalm

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tax me on my net worth? ok, what is my net worth?
I say my net worth is $1...what do you say it is?
and prove it.

I mean really, do you have to look any farther than
the current state of affairs to see the end result?

half of the tax payers will be under-reporting or opting
out altogether and the other half will labor on until
they finally realize that it's not worth it anymore.
you know, like Atlas shrugging...

and none of this even comes close to dealing with the
immorality of it all and property rights.
May I recommend Bastiat?

one final thought...who would want to own anything? what incentive
would you have to save and invest? once the tax rate rose above a certain threshold most would spend their income on consumable goods and services. Think blow and hookers, but it would be a smashing good time, wouldn't it?