This week, SCOTUS is going to hear a tax case that will define what "income" is and could totally change what is taxable income.
Rich people are upset they are getting taxed. They are also afraid of a future wealth tax and want to kneecap the potential now.
Will the rich get another win in the Republican Supreme Court?
https://www.lawdork.com/p/moore-v-us-income-tax-donald-tobin-qa
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@paul Yea taxing money over and over again once its earned is simply unfair... not going to support this regardless of the idiotic anti-rich rhetoric... I **will** support anti-trust/monopoly enforcement which biden seems to refuse to care about.
@freemo
It's not taxed over and over again.
New unearned money is new money that has never been taxed.
In most cases the original money that was already taxed is not taxed again.
> It's not taxed over and over again.
>
> New unearned money is new money that has never been taxed.
Then you never bothered to understand what this post is about. Wealth tax is tax on existing already taxed money, it is distinctly different from income tax (which is a one-time tax).
Dude what is seriously wrong with you.... **you** mentioned wealth tax first. Here is what you said, and that I was responding to.
> Rich people are upset they are getting taxed. They are also afraid of a future wealth tax and want to kneecap the potential now.
The fact that you can use a word, not understand what it means, and then argue the word was never said is astonishing to say the least.
@freemo
I did bother, even read the certs and amicus briefs. There is no "wealth tax" so no one can say what a future wealth tax, if instituted, will tax yet. This case could kneecap any attempt, redefine income.
Post & case is about whether the Moore's were taxed for their interest gains in a foreign business is constitutional under the 16th amendment. More importantly, unrealized sums without apportionment among the states or direct tax.
https://www.supremecourt.gov/DocketPDF/22/22-800/285724/20231020160543752_44293%20pdf%20Tobin.pdf
https://www.supremecourt.gov/DocketPDF/22/22-800/255137/20230221100735190_USSC%20Petition%20for%20Writ%20of%20Certiroari.pdf