Remember when Reagan asked...

[Acer]

The power to tax means the power to raise the tax rate to destructive levels when the institution being taxed begins to bother those setting the tax rate. And it does not have to be much. Many nonprofits operate on a razor-thin margin that's very sensitive to economic cycles. I'm willing to forgo the revenue from taxing a megachurch or two for the protection from tyranny tax exemption provides all nonprofit institutions.