U.S. Supreme Court Case Poses an Important Constitutional Question: What Constitutes ‘Income’ By Royal Alexander

The U.S. Supreme Court heard oral arguments this past week in what observers have deemed the most important tax case in decades. To answer the question at issue in the case—whether Congress can tax unrealized capital gains as if they were income—the Court will need to define what “income” actually is.I find this case intriguing both because of my general disdain for over-taxation and over…

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