Posted on 06/26/2023 12:50:02 PM PDT by CFW
The Supreme Court announced Monday it would take up a case considering whether Congress can tax income before it is received.
The case, Charles G. Moore et ux. v. United States, stems from a Washington state couple’s 2019 lawsuit against the government for a nearly $15,000 tax bill imposed on their small investment in an overseas company, from which they never earned a profit. It considers whether taxes on unrealized gains are legal under the 16th Amendment, which enables Congress to tax incomes “without apportionment among the several States.”
Hank Adler, Burra Executive Professor of Accounting at Chapman University, previously told the Daily Caller News Foundation the Moores’ case is “the most important tax case in almost 100 years.”
(Excerpt) Read more at dailycaller.com ...
Yep
Good point!!!!
Sadly, Per the 16th Amendment, it is Constitutional.
They also said that about the 18th Amendment (Prohibition) which was passed around the same time. (No coincidence there).
"A law repugnant to the Constitution is void."
"The Income Tax is a fraud."
Since the tax violates equal treatment under the law, it's null and void.
If they can tax income before you receive it, can you get deductions for losses you haven’t realized yet?
You should but of course you won’t be able to do that.
“Comps. Illegal in my mind.”
My current jurisdiction loves “current construction costs” valuations.
“That happens all the time when stock options are granted to employees and then lose value.”
Only if you converted the options to shares (exercised). I let mine expire unexercised because I would have had to pay beaucoup bucks for the value of the stock at the time the options were granted, not at the much lower price when they expired.
“If they can tax income before you receive it, can you get deductions for losses you haven’t realized yet?”
Of course not!
And, the democrats will not even consider reducing spending for that is how they buy votes. So, they are always needing MORE, MORE, MORE, of your money!
TAXATION is THEFT!
INFLATION is THEFT!
Live as ‘underground’ as you can!
These b@stards! ‘What’s yours is mine and what yours is mine!’
*SPIT*
I can’t begin to express my loathing for Mother Government! READ A TAX TABLE! Pay what you are supposedly ‘due’ but DO NOT pay one thin dime more!
Educate yourselves. It’s for your OWN good! Starve the Beast that ‘We The People’ have built!
May I remind you that a “Flat” tax is STILL and INCOME TAX!
You need to VERY CAREFULLY rethink your position.
FAIRtax = FReedom!
Income tax = Slavery!
This is the reason we have the 2nd Amendment. Getting real close to CWII.
Well; there IS precedence - raising the National Debt.
We already have borrowed money against the future taxes we hope to receive.
Our government spends money we HOPE to get in the years to come.
How much is YOUR share amount?
https://usdebtclock.org/index.html?taxpayer=
I haven’t gotten anything yet that I didn’t pay taxes on as I went along. Now I am on S.S., so does that mean I may get a tax bill for a huge nest egg that I haven’t received yet or likely never will? This is insane. Every dime I have in this world could be required of me now for taxes if the IRS thought I might get some huge sum of money in the distant future. Is that what they are saying?
I have always felt that way myself.
It violates the 4th, 5th, 13th & 14th
Hahahaha. This is the same IRS that makes you pay taxes on gambling winnings but does not allow you to deduct gambling losses (unless you are a “professional” gambler). So what do you think they will decide?
Will property taxes still be constitutional?
We already do, for property taxes.
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