Three strikes and you’re out
The U.S. Constitution which is the supreme law of the land gives the federal government the authority to collect only the following taxes: excise, duties and imposts (Article I, Section 8); capitation which is a direct tax levied in proportion to the population of each state (Article I, Section 9, Clause 4); income tax (16th Amendment).
A wealth tax, also known as an asset tax, would apply equally to all taxpayers and is thus a direct tax. Such a tax would violate the capitation clause (Article I, Section 9, Clause 4) and would be unconstitutional. It would also be double taxation since after-tax income is used to acquire assets.
As an aside, Mr. Chief Justice, I would respectfully suggest that you do not repeat the mistake, if the asset tax were to become law, that you made when you rewrote the Patient Protection and Affordable Care Act statute and called the penalty a tax where this “tax” was not authorized by the Constitution (an action for which you should have been impeached, tried, convicted and removed when the Democrats lost control of both the House and the Senate in 2010).
In addition to her proposed and unlawful federal asset tax Senator Liz Warren also lied about being a Native American, and finally she tried to portray herself as a good ol’ boy by drinking a beer. Very insincere. (Sorry ladies, there’s no such thing as a good ol’ girl but then again maybe Ms. Warren is trying to break new ground here).
So Ms. Warren is ignorant of the law, she lied about her ancestry to further her career and her feeble attempt to relate to mainstream Americans by drinking a beer was beneath contempt.
Like baseball, it’s three strikes and you’re out.
CHARLES F. HEIMERDINGER