That's true, if you have a ferrari and declare minimum wage income you'll have problems though there are many less conspicuous ways to spend/save/invest the mon

That's true, if you have a ferrari and declare minimum wage income you'll have problems though there are many less conspicuous ways to spend/save/invest the money. You would certainly get a significant rise in tax evasion. I'm not actually convinced that's a bad thing overall (though I'm not inherently anti tax). If it brings tax schemes previously only available to the wealthy into the hands of commoners.