[BigTTYGothGF]

> Make someone declare the value of their property. Then the government has the choice of taxing them at the scheduled rate, or buying the property from them, for that cost.

Isn't that what got Guatemala invaded back in the 1950s?

[hydrogen7800]

I had a similar memory of hearing this scheme in the context of a Latin American country. Industries were nationalized, and foreign corporate owners were compensated based on the tax assessed value of their businesses.