FACT: 98% of Americans are getting a tax cut this year.

[Boondocksaints]

Well, that's a BIG distinction from your prior post, which said that "every person and business" with assets over $500-$1M should be taxed. My residence is my primary asset. If under your "humble" scenario, a super asset tax of say 8% were imposed upon my house, or your "8 figure" businesses, where will the cash come from to pay this? Maybe I don't have $40K lying about. That I do is a really arrogant assumption on your part. I did not buy the house with those taxes in place, nor did you probably enter into biz with same.

This makes no sense. You would only be taxed on the additional value your house has gained... and only after you have sold it. Even then, it would only be taxed if you didn't subsequently use the money from the house sale to buy another residence.