[Political Junkie Too]

Yes, it's an unconstitutional 5th amendment takings for no public use and no compensation (how does one compensate taking $1 million, by giving 10 cents on the dollar?).

The only justification would be a Kelo taking for "public good" instead of the constitutional "public use" in the 5th amendment, which is how municipalities took private property to give to other private entities that would generate more local taxes for the property.

However, that was an eminent domain case, and it would be a stretch for the government to claim eminent domain over one's bank account as a property taking.

-PJ

[Blood of Tyrants]

Back when the top income tax rate was 92% the Dems wanted to raise it to 100% above $200,000. But even their left wing lawyers thought it would run afoul of the 5th Amendment against unlawful seizures.

[Blood of Tyrants]

Make that the 4th Amendment.