Time to Revisit VAT: Implications of Moore Panic Easing on Federal Tax System

• Observers are confident that the Supreme Court will choose prudence over politics in Moore v. United States
• Even if the most contentious issue is sidestepped, Moore could still cause problems
• A ruling in favor of realization being constitutionally required could prevent a mark-to-market tax on billionaires
• A wealth tax is already a political non-starter due to public opposition to levies on unrealized income
• A mark-to-market tax on billionaires may not address the issue of inequality
• A wealth tax is more about politics than tax policy
• Politics play a significant role in tax policy
• A wealth tax is important for advancing a VAT

Source: forbes.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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