December 2, 2023
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10:36Now PlayingThe Supreme Court is set to hear a lawsuit challenging the concept of wealth taxes, particularly Senator Elizabeth Warren's proposal for a 2 percent tax on individuals with a net worth over $50 million. Even though Warren's wealth tax idea hasn't become law, the case, Moore v. United States, challenges an existing tax expected to generate $340 billion over a decade. The legal arguments of the plaintiffs seem to lack a solid foundation in law, relying on outdated laissez-faire decisions from the early 20th century. With six Republican justices on the Supreme Court, there is concern that a decision in favor of the plaintiffs could have significant repercussions on the government's fiscal capacity.
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