Pros: 1% per day would hurt the people with the most money. Horneman's has 200 Mil, and would loose 2 mil everyday, I do not watch his balance but I do not think he makes 2 mil a day, so he would "ideally" start to decay. Whereas if someone has 100 K, they would only lose 1k a day, surely they could earn more than that per day.
Cons: Long term effect of a daily tax would seem ridiculous.
I personally don't care, but I am sure Onis would love to see Horneman's lose the 40 Mil he made off the superbowl bet ;p