Elizabeth Warren's Wealth Tax

Someone should make her measure her own wealth and the wealth of 10 close family members, just to see if she could do it before beta testing the idea on the entire country.

Because here are some problems:

But a little peek into this sausage factory should leave you wondering, just why are these the rules of the game? Why do we care (should we care) so much about the distribution of something that is essentially impossible to measure or define? If you are making money was a partner in an LLC you help to run, why should anyone care about a fictitious accounting "value" of that partnership? You can't sell it! Why start with pretax income? If you pay half your income in taxes, does that not halve the value of the asset? Why does "wealth" include the value of proprietor and partnership income but not labor income or social security income?

Good luck.