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
Department they explain what happened. Reporter guy here laughing sofa lot of firefighters and shopper distinctions taken back by everything you hear from witnesses and just a minute of the fire chief was going to tell us is that the bicyclist has a life threatening injuries and people who were on the bus were hand in need to be extradited out of the bus and again and see what the firefighters and the scaffolding how long it is and how heavy its and people in those cars without people being taken out of here on stretchers wheelchairs we hear from witnesses in just a minute. We do not know why this bus driver lost control flying down several streets here on the questions he can see answered as soon as possible. We continue pam following this and then numbering kelly is also on the scene to bus accident in seven fiscal years where the number of people taken to area hospitals witnesses in the area stunned by what has happened marine what can you tell us . All of reporter unfolded and from
State roads. Taxes that are collected for tolls go to maintain the toll roads. At 40 million, i am very proud. Neil get ready, welcome, everyone, maybe it was the way that he pitched in another tax hike that just made a snap. Fixing the roads and briddes is only right. I said to the good secretary know, that is not right. Not much you can fully account for the funds that we have already given you. Local, federal, you name it. As you can see here, he cant. The Highway Trust Fund is diminished. We wll be out of money. We need people to step up and provide some leadership and come up with the money. That is what we have always done in america. Okay, ring a bell . Is it is the exact same argument i had with the democratic senator who wanted to raise the gas tax even more from 18. 4 cents now. So you are talking about doubling the gas tax and acting like its no big deal . I didnt say itwas not a big deal. That americans want to know. How can you guarantee that . I just finished indicating t