No chance 3 ever passes, and a wealth tax would require an amendment unless it is "apportioned among the states" or some such thing (and it can't be because wealthy people are concentrated in a handful of states).
Editing to add: It would also be a bad idea to abolish the EC because then candidates would only ever campaign in cities. They would completely ignore rural areas, which are financially and culturally different. This would not end well.
Separately, it would also mean we wouldn't know who the president is until all states are done counting, and it would complicate the recount process. Both are simpler under the EC, assuming the slow states are not close calls or big enough to swing the EC count (which they usually are not).
Editing to add: It would also be a bad idea to abolish the EC because then candidates would only ever campaign in cities. They would completely ignore rural areas, which are financially and culturally different. This would not end well.
Separately, it would also mean we wouldn't know who the president is until all states are done counting, and it would complicate the recount process. Both are simpler under the EC, assuming the slow states are not close calls or big enough to swing the EC count (which they usually are not).