We continue our look at the tax plans of each of the Democratic candidates for President.
I'll confess; I don't understand single-issue voters. Don't get me wrong, I appreciate how important the right to choose or the 2nd Amendment or a crocodile-infested moat along the southern border may be to some people, but I'd like to think that before anyone steps into a balloting box, they'd have selected a candidate based on the strength of their full platform.
Why would a wealth tax be met immediately with a legal challenge that would be fast-tracked to the Supreme Court? To understand the answer, we'll have to travel back in time to a country in its infancy, desperate to limit the federal government's powers while at the same time, granting Congress the ability to tax northern and southern states with, how should I put this...certain.
A similar process would play out on a tax on land, either by acreage or value. With respect to a per-acre tax, the south was concerned that in the absence of apportionment, it would place a heavy burden on those states, where there were large swaths of land that weren't heavily populated, resulting in southern land owners paying a much higher per-acre burden than those in the north, where there was less land and more people to share the tax burden.
How do we know? Because James Madison was keeping copious notes during the Constitutional Convention, that's how, and he noted that when Rufus King asked for the precise definition of a direct tax, Madison's recorded in his shorthand,"no one answd." Soon after, Alexander Hamilton would lament that it was"a matter of regret that terms so uncertain and vague in so important a point were to be found in the Constitution.
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