One thing that I think is rarely brought up in these discussions is the effect that comes from these rules not being adjusted geographically. I know a number of Midwestern entrepreneurs who struggle to find accredited investors in their area, because the wealth test is defined around the coasts. If you don't have access to those cliques, your access to legal funding opportunities is severely limited.
Taxation is likewise not adjusted by local cost of living. Federal brackets applied to, say, Appalachia are different than applying them to the big cities.
Not directly, but taxation is adjusted to income, which means effectively adjusted to cost of living for places where those are not wildly out of sync (Appalachia is not one of those places).
