Your understanding of economics may be limited but your Tea Party posts helped elected President Obama.<quoted text>
While I'm doing that, think about this.
In France, the net worth tax is called the "solidarity tax on wealth". In other countries, the tax is known as "Net Worth Tax" or just "Wealth Tax".
Some European countries have abandoned this kind of tax in the recent years: Austria, Denmark, Germany, Sweden, Spain, Finland, Iceland and Luxembourg. In Belgium and Great Britain, no tax of this type has ever existed.
The United States Constitution prohibits any "direct tax" on personal holdings.
Does that even matter to you anymore? The Constitution, I mean?
You are a vital democrat!:-)