The Supreme Court's 7-2 decision in Moore v. U.S. upheld the tax on offshore earnings, ensuring the survival of the U.S. Tax Code by avoiding potential trillions in lost tax revenue.
Justice Brett Kavanaugh's ruling highlighted the importance of upholding tax provisions to prevent fiscal calamity, rejecting challenges that could lead to significant budget cuts or increased taxes on Americans.
The decision did not settle the constitutionality of a wealth tax but opened the door for potential future cases, leaving room for discussions on tax policies like an 'Elizabeth Warren-style wealth tax.'
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