[Alberta's Child]

If such a stupid plan was ever implemented, I could see a cottage industry of lawyers and accountants spring up whose sole purpose is to legitimately under-value assets across the board. You’d also have wealthy people selling their assets to each other once every year at steep discounts — to reinforce the low appraised values for “wealth tax” purposes.

“Hey, Bill Gates! It’s Warren Buffett. I have an office building I purchased a few years ago for $10 million. How’d you like to buy it for $250,000? And while I have you on the phone, let’s discuss my interest in buying YOUR office building!”

[Susquehanna Patriot]

“If such a stupid plan was ever implemented,...”

That’s what is missing from the news reporting. Exactly how is she going to get this passed through Congress? The faker will say anything to get the party nomination. If she is nominated, then astute GOP Congressional candidates would pounce non-stop on their demokrap opponents - box them as supporters of the faker’s radical plan.

[rey]

I read somewhere that with her plan the IRS would determine value.

[Reagan80]

The side benefit would be the crushing of municipal tax receipts in getting appeals won to revalue the property at the most recent sale price to get the property re-assessed at the new lower value for property tax purposes.

Do enough of these and you get new lower comps, too!