INSTANT POVERTY FOR ALL: Supreme Court decision could impose taxes on PAPER GAINS for all assets

Let's move on to the financial news today, because there is a massive US Supreme Court case looming here that's called Moore versus the United States. If the Supreme Court sides with the federal government on this, it would allow the federal government to essentially confiscate virtually all assets of the American people, including your stocks, your home, your land, your gold, everything, almost everything. So this case is challenging the constitutionality of a tax law which was part of a law enacted in 2017, under Trump.

This law required a one time repatriation on unrealized profits that are held overseas. So if you were an investor in an overseas company, and then that company never paid you profits, but if it reinvested its own dividends, and you maintain your ownership of that company, you were supposed to pay taxes on these unrealized gains, even though you never got paid.

So this couple Charles and Kathy Moore, they sue the government after they were billed $14,700 or so as a tax obligation. It's gone to the Supreme Court, the oral arguments have already taken place. That was about a week ago. And the Supreme Court is set to rule on this... many people believe by June 2024.

Now, importantly, if the Supreme Court rules that the federal government can tax unrealized gains, that is paper profits, on investments that American citizens hold, then that would be absolutely catastrophic for the American people for their savings, for their assets, for their retirement funds, everything. And here's a quote from Peter Schiff. He tweeted this out, and I think it encapsulates the potential crisis facing us all if the supreme court rules in favor of the federal government, he says:

If the supreme court rules in favor of the government and allows it to redefine the income to include any unrealized appreciation in any asset, that it will grant the federal government a new power to nationalize the entire asset stock of the nation. In hyperinflation, the only refuge people have is the ability to hold real assets and never sell them. But if the federal government can claim unrealized inflationary gains as being taxable income, then almost all Americans will be forced to sell their assets just to pay their tax liabilities.