Opinion: A Wealth Tax is Dumb and Unconstitutional

[NolaAuTiger 3,295]

"There seems to be a slight problem with respect to the 'wealth tax' proposed by Bernie Sanders and Elizabeth Warren, one to which at least the latter, as a lawyer, should be sensitive.  Specifically, the Fifth Amendment to the Constitution prohibits, among other things, the taking for public use of private property without just compensation. The amendment does not distinguish between real and personal property, so both are included in the prohibition. Thus, any individual whose wealth, or a portion thereof, has been 'taken' by the federal government would be entitled to commensurate compensation from the government, resulting in a wash. This result would apply even if the 'taking' is authorized by a vote of Congress and signed by the president, unless the Constitution is changed."

Source: Dane A. Shrallow

[homersapien 11,353]

11 minutes ago, NolaAuTiger said:

"There seems to be a slight problem with respect to the 'wealth tax' proposed by Bernie Sanders and Elizabeth Warren, one to which at least the latter, as a lawyer, should be sensitive.  Specifically, the Fifth Amendment to the Constitution prohibits, among other things, the taking for public use of private property without just compensation. The amendment does not distinguish between real and personal property, so both are included in the prohibition. Thus, any individual whose wealth, or a portion thereof, has been 'taken' by the federal government would be entitled to commensurate compensation from the government, resulting in a wash. This result would apply even if the 'taking' is authorized by a vote of Congress and signed by the president, unless the Constitution is changed."

Source: Dane A. Shrallow

So could the same argument be used to declare  income tax unconstitutional?

[AFTiger 282]

It was unconstitutional until an amendment was added to the constitution.

1 hour ago, homersapien said:

So could the same argument be used to declare  income tax unconstitutional?

 

[NolaAuTiger 3,295]

7 hours ago, homersapien said:

So could the same argument be used to declare  income tax unconstitutional?

Have you read the Sixteenth Amendment?

[homersapien 11,353]

17 hours ago, NolaAuTiger said:

Have you read the Sixteenth Amendment?

What I was getting at was your characterization of a wealth tax as being "dumb".  I understand the technical difference between a wealth tax and the income tax - the latter is legal because of the 16th.

So, do you think the 16th amendment is also "dumb" like the wealth tax?

 

 

 

[NolaAuTiger 3,295]

On 10/17/2019 at 10:06 AM, homersapien said:

So could the same argument be used to declare  income tax unconstitutional?

 

26 minutes ago, homersapien said:

What I was getting at was your characterization of a wealth tax as being "dumb".  I understand the technical difference between a wealth tax and the income tax - the latter is legal because of the 16th.

So, do you think the 16th amendment is also "dumb" like the wealth tax?

 

 

 

 

[homersapien 11,353]

In other words, is the only difference, the difference between taxing  wealth or income?

If so, IMO a wealth tax makes more sense than the income tax.

 

 

 

[NolaAuTiger 3,295]

10 hours ago, homersapien said:

In other words, is the only difference, the difference between taxing  wealth or income?

If so, IMO a wealth tax makes more sense than the income tax.

 

 

 

Ignore the facetious use of the term "dumb." Focus on the body of the OP - specifically the point re wealth tax being a "wash" absent proper amendment.