This will destroy the middle class and force more wealth to be accumulated in the hands of the elite. At its best established companies will have a massive advantage because they were built off capital that wasn't subject to this tax. At worst this will effect everything from Jewelry to appreciated graphics cards, causing the average person to be in a permanent state of selling their belongings just to cover their tax obligations. You'll have to work as a slave for ever because if you stop working you'll still have to pay tax without an income.
This will destroy the middle class and force more wealth to be accumulated in the hands of the elite. At its best established companies will have a massive advantage because they were built off capital that wasn't subject to this tax. At worst this will effect everything from Jewelry to appreciated graphics cards, causing the average person to be in a permanent state of selling their belongings just to cover their tax obligations. You'll have to work as a slave for ever because if you stop working you'll still have to pay tax without an income.
You will own nothing and you will be happy.