What Does Moore v. United States Mean for a Future Wealth Tax?

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the"mandatory reparation tax" , a provision of the Tax Cuts and Jobs Act, which was signed into law by President Trump in 2017. Charles and Kathleen Moore asked the Supreme Court to overturn the provision on the grounds that they should not be taxed on"unrealized gains." Deciding to uphold the provision in a 7-2 decision, Supreme Court Justice Brett for the majority: "They cannot distinguish the MRT from other longstanding taxes that they concede are constitutional.

After being taxed on an investment they had in an Indian company, couple Charles and Kathleen Moore asked the Supreme Court to overturn what’s known as the “mandatory repatriation tax” , a provision of the GOP’s 2017 tax law that imposed a one-time tax...It’s difficult to concisely summarize the Supreme Court’s Thursday decision in Moore v. United States, which rejects a challenge to a one-time federal tax targeting some investors in foreign corporations.

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