High Court Would Be Skeptical of Wealth Tax, Moore Attorney Says

The Supreme Court ruling upholding a key tax on foreign income likely suggests that any future attempts to impose a wealth tax wouldn’t pass muster with the court, an attorney directly involved in the high-court case said Monday.

The positions the justices staked out in Moore v. United States suggest that a pure tax on wealth is “simply off the table,” and that even an attempt to enact a tax on the appreciation of wealthy individuals’ assets “would be throwing members of Congress into a constitutional quagmire,” said Andrew Grossman, a partner at BakerHostetler LLP who represented the plaintiffs ...