Opinion | Can Congress Tax Wealth by ‘Deeming’ It Income?

  • 📰 WSJ
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

United States Headlines News

United States Latest News,United States Headlines

From WSJopinion: The courts would do well to remind Congress at this opportune time that its taxing power is not without limits, write DavidRivkin and andrewmgrossman

Charles and Kathleen Moore have done well, but they certainly aren’t billionaires. Yet the couple’s constitutional challenge stands to slam shut the door on a federal wealth tax like the one Sen. Elizabeth Warren wants to enact.

The story is complicated, though less so than the tax code. In the 1990s Mr. Moore, a software engineer, worked at Microsoft on its Office applications and grew close to a fellow programmer, Ravi Agrawal. Mr. Agrawal dreamed of returning to his native India to do something for the small-scale farmers he knew growing up in the state of Chhattisgarh.

Source: Law Daily Report (lawdailyreport.net)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

opinion DavidRivkin andrewmgrossman They said the same thing when Congress started the income tax.

opinion DavidRivkin andrewmgrossman and CVS also has carpet in their stores. it's creepy. i don't know why. but it just is.

opinion DavidRivkin andrewmgrossman Let’s do it and find out

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 98. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Here's how retirement plan tax breaks may widen racial wealth gapsTax breaks for retirement plans reward workers for saving. But these write-offs may be widening the racial wealth gap, analysis shows. Not looking at big picture. Liberal democrats are batting around a reoccurring (monthly, annually) 401K/IRA balance tax to fund their dreams for minimum standard wage and slavery retribution payments. Folks will be shocked when they realize what it means but will be too late.
Source: CNBC - 🏆 12. / 72 Read more »

Republican recall candidates want big California tax cuts. Who would benefit?At least two of the candidates have promised income tax cuts they say are necessary to help struggling Californians make ends meet. But both plans would offer benefits to more than just low-wage earners. The more we allow mentally ill people to run the more mentally ill ideas will be proposed Fake monuments. Heaven forbid people get to keep their own money
Source: latimes - 🏆 11. / 82 Read more »

It's Time To Fight About These 18 Controversial Cooking OpinionsThe kitchen is on fire. This kitchen's on fire!
Source: BuzzFeed - 🏆 730. / 51 Read more »

Why Kourtney Kardashian Is 'Upset' With Scott Disick's DMsKourtney Kardashian and Travis Barker are staying happy inside their bubble... no matter who tries to pop it. Boy, she sure picked a loser this time. You Kardashian girls need to wake up. All those guys are in your lives for the money. Even Kanye. Once you say to the mother of your children “you keep suckering me into this kids” you lose your pass to ever criticize her again. 15 Actors Who Could Never Play a Good Villain
Source: etnow - 🏆 696. / 51 Read more »

EXPLAINER: Congress asks tech companies for Jan. 6 recordsA House committee investigating the Jan. 6 U.S. Capitol insurrection has requested that telecommunications and social media companies preserve the personal communications of hundreds of people who may have somehow been connected to the attack. It's a sweeping public demand from Congress that is rare, if not unprecedented, in its breadth and could put the companies in a tricky position as they balance political and privacy interests. In letters Monday, the panel asked them to confidentially save the records as part of the investigation into the violent mob of former President Donald Trump’s supporters who stormed the building that day and interrupted the certification of President Joe Biden’s victory. They had no problems handing over records for 'Islamic' terrorists, so what is the problem this time? Is it the color of their skin or that they are home-grown traitors and rebels? Fine then. Let's also get Aunt Nan and Chuckie Shumer's private messages for the last 9 months so we can see why they refused to beef up security at the Capital when they were warned before Jan of thousands of protesters coming to DC.
Source: YahooNews - 🏆 380. / 59 Read more »

3 Things We've Learned About the Importance of Purpose in LifeCultivating this quality may increase a person's health, wealth, and happiness, according to MaclenStanley
Source: PsychToday - 🏆 714. / 51 Read more »