I agree and disagree. I do think people would be incentivized to find a store of value that doesn't meet whatever definition of wealth the IRS uses. I think n

I agree and disagree. I do think people would be incentivized to find a store of value that doesn't meet whatever definition of wealth the IRS uses. I think no matter what your definition is, there will be a way to game the system and the wealthy will do so aggressively. I don't necessarily think it leads to purchasing status symbols. Depreciation already kind of incentivizes that, so I don't think there's anything fundamentally game-changing there.