Biden Regime To Americans: Deed Your House To IRS

SCOTUS To Decide

Will you be forced to sell your home just to pay new federal taxes?  Imagine receiving a huge tax bill for the IRS-assessed increase in your home’s value since you bought it.  It could happen if the Biden Regime wins at the US Supreme Court.

During last week’s oral arguments in Moore v. United States, the justices focused on the question of whether the 16th Amendment’s* authorization of “income” taxes allows for taxing the increased value of your home and other assets, AKA “unrealized gains.” It has long been understood that income taxes apply only to realized gains, that is, funds actually received by the taxpayer when he/she sells an asset.

Biden’s solicitor general told the justices that the “ordinary conception of income” means any “economic gain between two points in time.” She encouraged the justices “to not rely on concerns about . . . far-fetched hypotheticals.”  In order words, the greedy Deep State & Biden Regime is salivating at the thought of taxing home appreciation. Americans be damned.  They know this new form of tax would produce massive homelessness as all low-income and many middle-income Americans would be forced to sell their homes to pay off this unethical & immoral tax debt.  There is nothing hypothetical about THAT.

DIG UP GREAT GRANDPA: HE OWES TAXES

If the Biden Regime is correct that “income” means any “economic gain between two points in time,” without regard to whether that gain is realized, then Americans should have been paying taxes on the appreciation of their homes and other assets since the dawn of the income tax in 1913, one hundred years ago!!!

The “havoc” the Biden Regime contends the Moores’ position would wreak on the tax code seems quaintly naive in comparison to the nuclear fallout from a ruling in the Deep State’s favor.  Every taxpayer would owe between $10,000 and $37,000 for each $100,000 in IRS-assessed appreciation of his/her possessions. The first few years this taxation takes place there will be a glut of homes on the market. Who will buy them? Other families? Not likely. Big Corporations will buy up the housing for a song.

If the US Supreme Court rules in favor of the Biden Regime, the tax code’s new definition of income will result in confiscating virtually ALL assets owned by middle- and lower-income Americans. If the IRS doesn’t seize them, Big Corp will.

*Sixteenth Amendment, Ratified 02/03/1913:  The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.