The Supreme Court’s new tax decision is great news for billionaires

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. But the bottom line is that Moore is bad news for anyone hoping that the Supreme Court would launch a comprehensive attack on the federal government’s ability to raise taxes. 

Nevertheless, the decision is still excellent news for billionaires.