Is that it's not Constitutional. Look at it closely. It's not levied on income, but rather wealth. It's a direct tax.
Hence, it is a direct tax prohibited by Article 1 of the Constitution, and the 16th Amendment (which authorizes only income taxes) has no bearing on it.
I'll be sitting here with the crickets chirping while I wait for the Senate or courts to figure this out, but it's pretty clear to me. There is no Constitutional authorization for this particular form of class warfare.
Getting your ducks in a row! - *Your weekly Dose of Spurgeon* The *PyroManiacs* devote some space each weekend to highlights from the lifetime of works from the Prince of Preachers, Char...
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