The threat of nationalisation at compensation equivalent to the value declared for tax purposes is scary if and only if a) you systematically under-value your land in order to defraud the taxpayers AND b) there is a real need for land reform.

I am not sure that there is a real need for land reform in much of The West(TM). So we'd need an auditor corps to assess the property values.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.