On this week's episode of Wild Card, actor Ted Danson says it's possible to embrace your regrets.
I wish I hadn't become a liar, you know, early in life.
But even your wounds you kind of have fondness for if you've lived through it and made amends and all of that stuff.
I'm Rachel Martin.
Join us for NPR's Wild Card podcast, the game where cards control the conversation.
This is Planet money from NPrdez.
There is a kind of tax that a lot of people have imagined and dreamed of really for years now, a wealth tax, a way to tax people not just on what they earn, but on what they own, houses, stocks, Picassos, superyachts, thoroughbred horses, whatever.
Supporters of this idea tend to be pretty progressive, and they say a wealth tax would be this powerful way of fighting inequality.
But the legality of a wealth tax that has been in question for a long time.
And this term, the Supreme Court had a chance to weigh in the case that gave him that chance.
It's called Moore versus the United States.
So the Moores are an american couple named Charles and Kathleen Moore.
And in the mid two thousands, they invested in this business in India that provides equipment to low income farmers.
Over time, this business grew.
It made profits, and the profits got reinvested in the company.
Now, usually when that happens, the company's investors, they can defer taxes on those profits if they're made outside the US.
But in 2017, Congress passed a new law that said for foreign corporations, Americans like the Moores would have to pay a one time tax on those profits, even if the profits never actually reached their own pockets.
The Moors argued they were being taxed on what investors call unrealized gains, where the money is there on paper, but it's still invested and not yet turned into cash.
In other words, its not income.
Its like basically wealth.