Supreme Court Seems Reluctant to Slam Door on a Potential Wealth Tax

Posted on AllSides December 6th, 2023
From The Center

The U.S. Supreme Court justices seemed reluctant to overturn an element of the U.S. tax code in a case that could have sweeping implications for how the government can tax wealth. In Moore v. United States, plaintiffs Charles and Kathleen Moore are challenging the constitutionality of the mandatory repatriation tax, a one-time levy on certain unrealized foreign assets that was included as part of the 2017 Trump tax cuts. After losing twice in lower courts, the Moores are asking the high court to overturn that provision, refunding them around $15,000...

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