The Tea Party contingent of the Republican Party won’t like it. But, if President Obama and his minions have their way, U.S. taxpayers may soon be paying a new tax – one based on their net worth.Such “wealth taxes” are nothing new. Among other countries, France, India, the Netherlands, Norway, and even Switzerland levy a tax based on the net worth of individual residents. I last wrote about wealth taxes here.The mechanics of a wealth tax couldn’t be simpler. You prepare a balance sheet of your worldwide assets. Then, you subtract an exempted amount. (For instance, in France, the first EUR 600,000 of assets are exempt from wealth tax. This exemption is slated to increase to EUR 1.3 million in 2012.)If your net worth is higher than the exempted amount, wealth tax is due on the balance. In France, the rates vary from 0.55% to 1.8%, although they’re scheduled to be reduced in 2012 to a top rate of . . . . . . . . .