UBC’s Tom Davidoff has finally shown his true and full colours with the comment that “if you tax a 4 million dollar house nothing bas happens in the economy”. (Amy Smart, VancouverSun, May 15th). Following this twisted logic, the value of any asset could be taxed, from other real-estate holdings (in BC or elsewhere) to cars, boats or financial assets (including shares in private or public companies or RRSP’s), all with “nothing bad happening”. And while today’s vale threshold for “wealthy” is $3 million, tomorrow’s could be anything. Similarly today’s tax rate is 0.4%, but being completely arbitrary, could be 1% or anything else next year. Once this precedent is set (of taxing the paper value of personal assets), future governments will have a field day. From yachts to gas powered cars and trucks to “excess” RRSP holdings. Insidious. Pandora’s Box is about to be opened like nothing we have ever seen in economic and “fair taxation” terms. And Economist Davidoff cheerleads asset value taxes all the way, as preferable to the income sales taxes. (“When you do income or sales tax, you can chase away actual economic activity”.) While “nothing bad happens” from asset taxes. Ludicrous in the extreme.