What is the meaning of Luke 3:9?

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Reference

And now also the axe is laid unto the root of the trees: every tree therefore which bringeth not forth good fruit is hewn down, and cast into the fire. (Luke 3:9 KJV)

And even now the axe also lieth at the root of the trees: every tree therefore that bringeth not forth good fruit is hewn down, and cast into the fire. (Luke 3:9 ASV)

And already also the axe is applied to the root of the trees; every tree therefore not producing good fruit is cut down and cast into [the] fire. (Luke 3:9 DBY)

Even now the axe also lies at the root of the trees. Every tree therefore that doesn’t bring forth good fruit is cut down, and thrown into the fire. (Luke 3:9 WEB)

and already also the axe unto the root of the trees is laid, every tree, therefore, not making good fruit is cut down, and to fire it is cast. (Luke 3:9 YLT)

Interlinear

And /de/ now /ede/ also /kai/ the axe /axine/ is laid /keimai/ unto /pros/ the root /rhiza/ of the trees: /dendron/ every /pas/ tree /dendron/ therefore /oun/ which bringeth /poieo/ not /me/ forth /poieo/ good /kalos/ fruit /karpos/ is hewn down, /ekkopto/ and /kai/ cast /ballo/ into /eis/ the fire. /pur/ (Luke 3:9 KJV)

William Burkitt New Testament

St. John having preached the doctrine of repentance in the foregoing verses, he backs it with a powerful argument in this verse, drawn from the certainty and severity of that judgment which should come upon them, if they continued their sins:  Now is the axe laid to the root of the tree.  

Learn, 1. That it is not unsuitable for gospel preachers to press repentance and holiness of life upon their hearers, from arguments of terror. John does it here, and Christ elsewhere.  

2. That those whose hearts are not pierced with the sword of God’s word, shall certainly be cut down and destroyed by the axe of his judgments.  

Observe farther, that forasmuch as the sin here specified is a sin of omission, every tree which bringeth not forth good fruit, as well as that which bringeth forth evil fruit, is hewn down, and cast into the fire. We learn that sins of omission are certainly damning as well as sins of commission. The neglects of duty are as dangerous and damnable as the acts of sin. Such trees as stand in God’s orchard, the church, and bring forth no good fruit, are marked out as fuel for the devil’s fire.