Opinion | Can Congress Tax Wealth by ‘Deeming’ It Income?

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From WSJopinion: The courts would do well to remind Congress at this opportune time that its taxing power is not without limits, write DavidRivkin and andrewmgrossman

Charles and Kathleen Moore have done well, but they certainly aren’t billionaires. Yet the couple’s constitutional challenge stands to slam shut the door on a federal wealth tax like the one Sen. Elizabeth Warren wants to enact.

The story is complicated, though less so than the tax code. In the 1990s Mr. Moore, a software engineer, worked at Microsoft on its Office applications and grew close to a fellow programmer, Ravi Agrawal. Mr. Agrawal dreamed of returning to his native India to do something for the small-scale farmers he knew growing up in the state of Chhattisgarh.

 

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opinion DavidRivkin andrewmgrossman They said the same thing when Congress started the income tax.

opinion DavidRivkin andrewmgrossman and CVS also has carpet in their stores. it's creepy. i don't know why. but it just is.

opinion DavidRivkin andrewmgrossman Let’s do it and find out

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