They already have a version of this tax but your idea is outright criminal. If you own a business the government already makes you pay tax on inventory and on assets and it is the most draconian tax there is.
Now you say that I who have worked all my life to get what I have and live on my paid for property and live off of my hard earned savings should be taxed on a yearly basis because I have something. It is not dependent on how much is spend or how much I make but purely on the fact that I have something. So in the end your form of taxation would wipe me clean simply for existing. You must love the Obamacare mandate then since it mandates we purchase something just because we exist.
Seriously, if I met you and you suggested this tax to my face I would beat the living shit out of you on the spot. You are the problem with this country. My God where do you people come from.
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