Let's leave off the hostilities and spurious accusations please.

Your confiscation point is valid. I don't know that is an equitable solution because private people did pay into the program at one point.

I suppose what I'd like to see is religions limited to some multiple of working annual budget in assets. This avoids an entire set of perverse negative incentives.

Grandfather it in and prevent further investment or collections until the assets come back to the level specified.