Supreme Court's Shocking Rulings Shake Billionaires and Taxation Powers

The Supreme Court heard arguments in the case of Moore v. United States, which challenges the constitutionality of a one-time tax on US investors in foreign corporations. The case is seen as a potential test for wealth taxes targeting the stockpiled wealth of the rich. While some justices expressed skepticism towards the arguments made by the lawyer challenging the tax, there was also a search for a narrow decision that would not impact the constitutionality of a wealth tax. The Court may uphold the specific tax provision at issue in Moore without making a definitive ruling on wealth taxes.