This gets really sticky in a few areas: 1. Il-liquid assets and their values + the expense of constant appraisals 2. See #1 When they don’t produce cash - sur

This gets really sticky in a few areas: 1. Il-liquid assets and their values + the expense of constant appraisals 2. See #1 When they don’t produce cash - sure your stock ‘s “worth” $30m but doesn’t pay a dividend and you can’t sell it... so you have to borrow agains your extremely risky asset to pay your tax bill? 3. Has the potential to create real downward pressure on asset prices (which may or may not be a good thing) given the huge negative annuity associated with some non-cash producing assets