Welcome to mornings on 2, it is sunday, august 18, along with clotting, i am frank, we have rosemary to tell us about what should be a good day i guess. Camp temperatures continuing to cool down. It was nice today over areas towards the oakland as game. They one. It was a great one. We will continue to see the cooling trend. Today is expected to be the coolest day. As we get into your work week ahead, temperatures slowly rebounding. Outside our doors at this hour, what a beautiful view there. We do have a mix of sun and clouds once again. We do have partly to mostly cloudy skies right along the coastline. Temperatures are expected to be mild as we get into your afternoon today, if we can actually take a look at whether one guidance at a for the two, there you go. Are the clouds along the coastline and inside the north bay, over the east bay as well. Temperatures are within a few degrees of where we started yesterday, we are cooler in areas. 53 degrees to start your morning in napa. In
Argument in a case involving the taxation of earnings de by americans from a foreign company. The ca focuses on an indiabased company with more than half of its ownership held by americans. It was brought forward by a plaintiff who objected to a clause in a 2017 change in tax law that would have required a onetime repatriation test. This is about two hours. The court squarely held us much just a few years following adoption of the amendment. The it is undpud that the petitioners realedothing froms are stock investment. They were taxed not because they have no income but because in 17hey happened to owe shares in a corporation carrying retained earnings on its bks this is a tax on the ownership of property and therefore must be apportioned. The government cannot identify a single thing congress could not tax income underts position that reazation is unnecessary. Thout realization there is no limiting principle. Excepting the governments position on income would make a hash of the curren
By americans. It w brought forward by a plaintiff who objected to a clause in a 2017 change in tax law that would have wired a repatriation tax. This is about two. The court squarely held us much just a few years foowg adoption of the amendment. The the presidt kes easy work of the case. It is undisputed the petiors realize nothing from their stock investment. They were taxed not because they had income but becse in 2017 they happened to own sharein corporation. This is a taxn e ownership of property. Dispensing with the need for realization, the framers regarded this as the essential chec on the power of congress to taxrorty. The government cannot identify a single thing congress could not tax its income under its position realization is unnecessary. Without realization there is no limiting principle. Accepting th government position on income would make a cap hash of the current law. Gateway defition of gross income asserts congresses taxing por der the 16th amendment roh reaching al
This is about two hours. The court squarely held us much just a few years following adoption of the amendment. The the president makes easy work of the case. It is undisputed the petitioners realize nothing from their stock investment. They were taxed not because they had income but because in 2017 they happened to own shares in a corporation. This is a tax on the ownership of property. Dispensing with the need for realization, the framers regarded this as the essential check on the power of congress to tax property. The government cannot identify a single thing congress could not tax its income under its position realization is unnecessary. Without realization there is no limiting principle. Accepting the government position on income would make a cap hash of the current law. Gateway definition of gross income asserts congresses taxing power under the 16th amendment through reaching all income from whatever source derived. If the government possession position in this case is right th
Paid speeches behind closed doors. All eyes on the st. Louis debate. What will candidates say . As we look ahead right now on sunday morning futures. We are about 30 days away from the president ial election and just a few hours away from the second president ial debate. It is all about the debate today. Both sides of this race are preparing this morning and we are getting ready to speak with one of the leaders of the Trump Campaign and that is senator Jeff Sessions from alabama. We will get his commentary on that video and on trump seems to be digging in and staying in this race regardless of calls for him to step aside. Some of those calls are looking at governor mike pence, should he be at the top of the ticket right now . Clinton and her team are on the attack and ready for battle tonight. Joining me now is ed rawlings. You have been around this up teen times. This is the campaign that a month ago it is almost a dead even race before this tape came out. Trump has had a bad ten days