Ilya Shapiro, senior fellow and director of constitutional studies at the Manhattan Institute, reacts to this morning's decision in the Supreme Court case Moore v. United States:
"While an unfortunate outcome, this ruling is, in its own words, 'narrow,' only applying to shareholders of corporations or other entities that tax law treats as 'pass-throughs.' The majority further limits the reach of this ruling by disclaiming (1) any authorization of Congress to tax both an entity and its shareholders or partners on the same undistributed income, and (2) any resolution of the important question of whether realization is a constitutional requirement for an income tax. So those who hoped for a green light on a wealth tax, and those like myself who wanted the Court to slam that door shut, will both be disappointed with this decision; but at the end of the day it doesn’t mean much for anyone not affected by a somewhat obscure tax on foreign profits."
Click here to read an amicus brief Shapiro filed in this case: Amicus Brief: Moore v. United States
—Ilya Shapiro is a senior fellow and director of constitutional studies at the Manhattan Institute. His forthcoming book is called Lawless: The Miseducation of America's Elites. To book interviews with Ilya Shapiro, please reach out to Nora Kenney at nkenney@manhattan.institute.
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