* What if I own a house but have no cash? Will I have to sell it and live on the street to pay the taxman? - You do that now. Property taxes. * What if the ul

* What if I own a house but have no cash? Will I have to sell it and live on the street to pay the taxman? - You do that now. Property taxes. * What if the ultra-wealthy buy property and then mark it down? - People lie to the IRS now, system still functions. * A 3% wealth tax is still less than the growth rate of many financial assets. - Not necessarily. Safe stores of huge amounts of money yield very little. I don't know all the implications on interest rates, etc.. but it's an interestng idea.