I'd avoid doing this. Not for performance reasons, but because it makes for a poor database design. Each table/database entity should be created for one purpose. To blend together two tables blurs that purpose. I suspect that you might also have problems defining two foreign key relationships on the child column.
I don't think you'd gain much performance. If anything you'd probably lose performance, as the tables would be longer, resulting is more rows to scan for joins, where conditions and the like.
regards
David Cameron
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