Quote from FightTheFuture:
Your granny will be busy with several thousand head of cattle. I'm sure you will help out.
Your simple tax will put most farmers out of business.
The asset prices will reset to reflect the tax overhead.
Farm and ranch land is inflated as it is, this will bring down land prices and with the extremely low income tax this should bring in more small farmers.
Or I could be wrong and this type of tax wouldn't work for asset heavy business's.