Debt and Ceilings

Although America is supposedly living beyond the budget, there are Americans that could feed, house and educate cities-millions for a generation without exhausting their capital.

Seems to me there's an escape clause in every tax law to date. But, a new way to get the superrich untaxables would be a Wealth And Assets Tax!
WhAAT!?

Citizens only pay on what they acknowledge owning - start at one percent.
Anything not acknowledged becomes the peoples, anything significantly disputed might be auctioned or purchasable?
Might help balance the budget - and pay the interest on borrowings instead of default.

Australia's richest man

Packer gets the prize, ozzies richest fellow, and thats after some serious losses of late! Kerry's midas touch might not have been passed on but his fortune surely has.
Newspapers and media got Kerry there, where to for James now?