Could SCOTUS outlaw wealth taxes?
People participate in a "March on Billionaires" in the summer of 2020. The march called on the NY Governor to pass a tax on billionaires. Spencer Platt/Getty Images hide caption
People participate in a "March on Billionaires" in the summer of 2020. The march called on the NY Governor to pass a tax on billionaires.
Spencer Platt/Getty ImagesThe Supreme Court is set to hear arguments next week on whether the federal government can tax some "unrealized" gains. That's when an asset you hold, rather than sell, gains value. Tax experts say it's the biggest constitutional tax case seen in a century.
Today, we lay out the stakes and the massive implications for government revenue, taxpayers, and even wealth inequality.
Related Episodes:
Could a wealth tax work
How the proposed tax on billionaires would actually work
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.
Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.