The Moores assessed their gain via their filing documentation and then complained about the taxation that they assessed themselves. They could have avoided the taxation altogether by filing in a way that would exclude from taxability those unrealized gains. It was almost an argument after the fact and a forgone conclusion that this is how the court would find.
What??? The Moores never received any money. This ruling is preposterous. This tax was a Direct unapportioned tax in violation of Article 1, Section 2 of the US Constitution.
Income tax is a wealth tax - Wealth is stored income by definition. Therefore, a wealth tax is not a direct tax.
So he’s saying it’s better to tax us more and not international s ?
The Moores assessed their gain via their filing documentation and then complained about the taxation that they assessed themselves. They could have avoided the taxation altogether by filing in a way that would exclude from taxability those unrealized gains. It was almost an argument after the fact and a forgone conclusion that this is how the court would find.
What??? The Moores never received any money. This ruling is preposterous. This tax was a Direct unapportioned tax in violation of Article 1, Section 2 of the US Constitution.