Home brew is unlikely to get caught up in the alcohol tax issue, because the HB retailers are not selling alcohol, but merely ingredients such as grain, malt, hops, and yeast.
They don't necessarily have to be turned into alcohol, and could be used, for example, in baking. Hop bread, anyone?
Some of those ingredients, after we mash and ferment them, will turn into alcohol. But the same could be done with a myriad other ingredients.
For the basic K & K brewers, they would have to tax the guts out of the sugar industry.
I wouldn't start panicking just yet.