[jimmyhwang]

What concerns me about Mr. Miller's proposal is that if we went to a marked-to-market and in year 1 the stock gained 100%. Then let's assume that provided the government with $5Bil in taxes, the government would spend that money like a kid in a candy store. Then what would happen if that stock lost 50% of it's value in year 2? How would the government have the funds to "refund" that $5Bil back? Would they just print more money?

This idea doesn't take into account how volatile the market is and the nature of government to spend during any surplus. Not to mention all the overhead needed to find fair "marked-to-market" values for pre-IPO companies.

And as other comments have stated, if this were to happen, what would be the motivation of CEOs to drive the price of the stock higher? Wouldn't it be in their best interest to keep it low so their tax bill would be lower?