How the Moore Supreme Court Case Could Reshape Taxation of Unrealized Income
10th December 2023
A major case pending before the U.S. Supreme Court (Moore v. United States) is calling into question one of those provisions. Depending on how the court rules, large portions of the U.S. tax base could quickly become legally uncertain, putting significant revenue at stake.
Statist pocket-pickers love the idea of ‘taxing’ (stealing) part (or all) of the increase in value of an asset–your stocks went up in price? Well, that means you’re richer, so we get to wet out beaks. Your stocks went down in price? Sorry, dude, that’s your problem, not ours; you shoulda picked better stocks. Unfortunately (from their point of view) current law doesn’t let them do that, and that’s what this case is all about.