It seems like simplifications don't last long anyway as the real world impinges...plus, the rats always head right for the cheese.

To me, it's like the handwaving you hear about simply using a consumption tax. No doubt, people would find an infinite number of ways to game the system toot sweet.

Of course, implementing socially desirable behavior via tax law just throws even more complexity in the mix. Generally, I'd say that the larger the government share of GDP, the more opportunity for craziness. If your underlying culture doesn't reign anything in, mayhem results.