One of the main focus of the Magna Carta originally was to give people a sense of Rights over what they own (individual rights) and to disallow the crown to tax heavily arbitrarily. This is still law today. And we are in dire need of using it!
The Magna Carta is a contract that has equal consideration for both sides (too broken by the crown these days to go back on without full redesss, or for the people to have to hold to their end of it, which is why the lords invoked Article 61 Magna Carta 1215 in 2001).. all we owe allegiance to according to law is the common law itself which is what has been forged and according to birth rights which are not ours "to discard or diminish" - ref quote the lords who invoked clause 61.
THE CONSTITUTION IS THE SOLUTION - USE IT OR LOSE IT!