I like it. It's too bad it needs that clarification.
No it isn't. It's broad enough that the leftist courts will spend centuries trying to define it away. In the end they will declare the government as the property owner (because doesn't everything come from the all knowing and beneficent government?), but until then, the conventional notion will be taken as the first interpretation.
In the meantime we can concentrate on getting rid of the leftists. On that note, I vote for deporting them to China.