At this time the Supreme Courtroom will hear what might be an important tax case in a long time. Moore v. US may completely defend …
source
Billionaires Don’t Want You to Know About This Supreme Court Case | Robert Reich
At this time the Supreme Courtroom will hear what might be an important tax case in a long time. Moore v. US may completely defend …
source
The first taxes imposed on Americans by Congress were property taxes. i.e. taxes on wealth. An amendment was necessary to allow taxes on income. The notion that allowing ani income tax eliminated the ability to impose other taxes is absurd.
I think everyone knows this court is the most corrupt in American History
Wow what a propaganda video for the left wing liberals. Shameless!
If you think, ANYTHING the People say will make a difference….You are a fool….The People don't matter, to SCOTUS, OR CONGRESS..when they make up the LAWS, RULES, AND REGULATIONS FOR THEMSELVES…you think they would cut off their own noses ?
1. The Moores are being taxed on income that isn't theirs.
2. They are not billionaires.
3. They are contesting a $14,000 retroactive tax on property that isn't even theirs.
4. Corporations were excused from taxes unlike the Moores.
Our government is bordello for the 1%.
Wrong. There IS a wealth tax, assessed at death – the estate tax. It would be much simpler from a legislative standpoint and more efficient economically to have the estate tax at a much lower threshold and eliminate all the loopholes (step-up basis, etc.) and trust exemptions. Currently the threshold for a married couple is around $25 million. WIth proper tax planning, you can shelter much more than that. For a given amount of tax revenue, the compliance cost of an estate tax is much lower relative to an annual wealth tax.
Where an annual wealth tax is in place, the amount of wasted effort devoted to sheltering assets is large and stupid.
An annual wealth tax is just a dumb, dumb, DUMB idea.
Ah but the rich will just move their assets and home around the world to the cheapest location while the middle class will be stuck to pay the tab…..
It's all up for sale. Working people building wealth, money shufflers taking the lion's share.
The problem with a "wealth tax?" the same problem as the AMT. That tax, implemented in 1969, targeted 150 or so wealthy taxpayers who paid little or no tax. Of course it was widely supported because it only taxed those dam rich people. Naturally the tax was cynically constructed so that by 2010 it affected 30 million or so taxpayers. It was constructed that way because taxing the relatively few rich can never raise the amount of cash that taxing the multitudes of the middle class. It also gives the government more money to spend – like SF, which spend $700 million annually (and rising every year) to address their homeless crisis. With predictable results.
In no way can we allow the tax on unrealized gains. If this happens to be enacted everyone that has a increase in property value will have to pay a tax over and above the county tax. This would tax more people out of their houses. That is what capital gains is for after one sells the house or the stock or the business.
The average Joe has a picture of his trophy fish hung on the wall. These billionaires have photos of them standing next the Supreme Court Justices they caught on their wall.
Thank you, so much. What about all the taxpayer money that pharmaceutical companies receive for drug research and then charge sick taxpayers humongous amounts for those drugs. How is this legal?
Let me ask you a question. Should you have to pay taxes on money you took as a cash advance from a credit card? Is that income, or do you have to pay it back with interest? If you're not a moron you'll see that BORROWED MONEY IS NOT INCOME.
Bob Reich hints at ideological differences here (Democrats/ Republicans), but it is no secret that all major parties in all countries are highly susceptible to corporate interests. This is how lobbying works, and how politics work. Are not military behemoths that make up the U.S. military-industrial complex profiting from overseas conflicts right now, not only with the sanction of, but in full support from the Biden administration? All those arms and munitions EU states are pushed to give to Kiev… Where are they going to replenish their arsenal from, when the US (as the main force behind NATO) insists they do? You know it, right? It has been noted how the rhetoric around this also focuses on the supposed major job-creation associated with the sector, and how politicians (Democrats today, Republicans tomorrow, it does not matter) will tout this or that corporate sector as making jobs.
It is the same in Britain, where both main parties represent corporate interests, just different players within this or that sector. After all, as Hillary Clinton said (in probably the only wise word she has uttered in the whole of her political career) – "how do you get tough with your banker?"
So, yes, I am on board with Reich in his criticism, generally speaking, but it is naïve to look at the issue through a political and ideological divide. No one supports true regulation or controls, nor is it very possible to do so any more.
The Extreme Court is seriously compromised. Their decisions are based on personal preference, not the constitution, the law or precedent. Of course the personal preference of their benefactors.
I do find it funny that a guy named Robert Reich is always the first to go on Twitter and promote pro-Nazi propaganda lmao
Really sums up the views of the Left tbh
Can you speak to the MMT idea that taxes do nothing to fund the federal government. The federal budget does not take into consideration Federal Income Tax Dollars at all! Your taxes paid, are simply erased from your bank account without being redirected to the Federal Reserve. Taxing anyone rich or poor is simply a means to force people to go to work.
Our government is tailored by the wealthy, for the wealthy. Not fair, huh.
Article 9 of the Constitution clearly says any tax enacted by the Congress on the States must apply to all the citizens therein. Thus " wealth taxes " are already unconstitutional.
So how much money is too much? And who decides this?
First Congress. And now the Supreme Court.
They are apparently lining their pockets.
I never thought this would happen.