The Supreme Court will soon consider whether Americans can be taxed on the increased value of their assets even if those assets have not been sold.
The U.S. Supreme Court, in the case of Moore v. United States, will soon consider whether Americans can be taxed on the increased value of their assets—their property or their businesses—even if those assets have not been sold. The case could not be more timely, as there has been a flurry of misguided proposals in Washington—both from Congress and the White House—to tax these unrealized gains under the guise of 'wealth taxes.
The chilling effect that taxing unrealized gains would have on everyday investments, savings, and the economy would be enormous. Incentives for aspiring entrepreneurs would diminish and many would conclude the financial risks of starting a new venture could not be justified.
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