Libertarian
Oyez, Professor Epstein: The Making of a SCOTUS Amicus Brief | Libertarian: Richard Epstein | Hoover Institution
Sep 8, 2023
Law professor and libertarian Richard Epstein discusses the amicus brief challenging a tax change, the implications of eliminating the realization requirement for taxation, and the historical significance of the 16th amendment.
27:30
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Quick takeaways
- The podcast highlights the importance of the realization requirement in the tax system and argues against taxing unrealized income.
- Epstein and Yu argue that applying the 16th Amendment to unrealized income would have serious consequences and is historically untenable.
Deep dives
The Challenge to the Mandatory Repatriation Tax
The podcast discusses an amicus brief written by Richard Epstein and John Yu regarding a tax change in the Tax Cuts and Jobs Act. The amicus brief defends the owners of a foreign corporation who had to pay taxes on their foreign ownership. The case raises questions about the mandatory repatriation tax and its implications. Epstein highlights the importance of the realization requirement in the tax system and argues against taxing unrealized income. He warns that changing this requirement could lead to increased taxation and complexity.
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