Interesting tax case coming up in SCOTUS

[Mik]

The left is afraid this will prevent a wealth tax. Poor babies.

https://www.msn.com/en-us/money/markets/supreme-court-may-upend-the-u-s-tax-structure/ar-AA1hpENH?ocid=msedgntp&cvid=cc91a96134c4412b8dde43ca0ae5d780&ei=9

[jon-nyc]

I’m not seeing how it would “upend the tax code”. This is a provision that didn’t exist until Trump created it in 2017.

I don’t fully understand the implications of this case, but it seems to me that preventing a wealth tax is codifying the status quo, not “upending” the tax code.

[Mik]

It’s more complicated than that, but I think that’s what they’re worried about.