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Terry_M

(820 posts)
6. read the article...
Wed Jan 27, 2021, 10:00 PM
Jan 2021

the backup provision is a more painful/less direct way to do the same thing that no one wants but is clearly constitutional.
income tax and capital gains tax is constitutional clearly. an 80% income/capital gains tax on the wealthiest might be really hated but invalidating it would be invalidating the government's power to tax..

so if a 2% wealth tax is ruled unconstitutional under some bizarre argument, then the backstop is a completely legal 'income and capital gains' tax increase. if they say the income and capital gains tax is unconstitutional somehow then they invalidate the federal government's ability to tax so bye bye military spending?

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