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No, The Framers Would Have Hated The Billionaire Tax
Governor Gavin Newsom and other Democrats claim the Framers would have supported wealth taxes, but Jonathan Turley argues this is historically unfounded. Turley asserts the Framers, influenced by Enlightenment thinkers like John Locke, believed in the sanctity of private property. James Madison, in particular, wanted the government structure to protect the wealthy from majority rule, not to facilitate wealth redistribution. The U.S. Constitution, therefore, actually protects property rights, making a federal wealth tax unconstitutional. Turley suggests Newsom's support for a national wealth tax is a tactic to distract from his opposition to California's proposed Billionaire's Tax. This state tax aims to counter an exodus of wealthy taxpayers and address California's budget deficit. The proposed retroactive nature of the state tax highlights efforts to reclaim lost wealth. National proposals for wealth taxes by figures like Bernie Sanders and Elizabeth Warren are also discussed. Turley warns that a wealth tax, combined with potential Supreme Court packing, could lead to widespread property confiscation and a socialist economic system. He concludes that such a system would be Mamdanian, not Madisonian, in nature.