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> What the Tax Foundation isn't saying: plaintiffs want the supreme court to preemptively strike down the possiblity of a federal wealth tax. You are talking a
by fxd123 3y ago
> What the Tax Foundation isn't saying: plaintiffs want the supreme court to preemptively strike down the possiblity of a federal wealth tax.
You are talking about this like it's a bad thing. It absolutely should be struck down, and I don't really care what case ends up striking it down
- jldugger 3y agoYou probably should because the collateral damage here is like, a trillion dollars of other tax laws on the books that would also be ruled unconstitutional.
- fxd123 3y agoThat's not a bad thing
- jldugger 3y agoNah, it pretty much is, for anyone wanting to continue living in a United States. Even tax cut libertarians should recognize that the least just taxation system is random, which is what you are essentially advocating. Moreover, unplanned income drops are a huge problem for government finance, and by extension, corporate finance. A competent government produces a budget, a tax schedule, and raises debt to meet any planned deficits. Constitutionally, the House holds the purse strings, not the Supreme Court, and overturning 200 years of precedent here is not in anybody's best interest.