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To: MrB

Except that net worth is not reported to the IRS et al.

Short of a radical new privacy invasion, they won’t know who owns how much.
Worse, net worth is an ill-defined concept in law. Should net worth reporting be required (I don’t see how), an awful lot of “rich” would soon not be, as they downgrade homes to $900,000 and relocate savings to non-cash forms. (Recall some movie where the rich bad guy is asked where he stashed all that wealth: “See this cane? it was Charlie Chaplin’s. You get the idea.”)

And remember that once you reach “rich”, money can be redirected as needed. Favorite example: Steve Jobs’ salary was $1.


17 posted on 10/06/2011 1:41:33 PM PDT by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com/)
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To: ctdonath2
Short of a radical new privacy invasion, they won’t know who owns how much.

I guess, then, they'll just have to go with the "employed Caucasian" tax. It's really what they want to do anyway.

21 posted on 10/06/2011 1:45:11 PM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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