A Critical Tax Case Goes to the Supreme Court (Audio: Podcast)

One troubling flaw in the 2017 TCJA tax reform was the provision that deemed unrealized overseas profits as income and imposed taxes on these unrealized profits. In a painful irony this Republican design could set the precedent to allow progressive Democrats to impose a wealth tax on the unrealized increases in value of investments and assets. But in the meantime it also saddled Charles and Kathleen Moore with an unjust tax bill for unrealized overseas profits, and the Supreme Court has agreed to hear their case. But might a conservative Supreme Court allow this unjust tax to remain in place because that’s how Congress wrote the law? With IPI President Tom Giovanetti and Resident Scholar Dr. Merrill Matthews.