I don't think I've moved goalposts -- maybe just failed to articulate my concern precisely. (And only skimmed the article you linked.)

If the government purchases real estate with its own money and later sells it--fine by me. They have business to take care of and need places to do it.

What bothers me specifically would be a growing federal or state government stake in assets owned by others by virtue of a tax law that grants them such ownership.

I imagine whole swaths of businesses, apartments, and other buildings in cities across the US that are >50% owned by the government 40 years from now.

It would push us a lot closer to a world where people don't own anything anymore besides their own houses (maybe not even that) and the government owns everything.