[Ice]

According to the Supreme Court "gain" is income and therefore subject to "income tax".



Personally, I don't even think of paying "tax" unless 1) Congress apportions a tax or 2) excise tax (like when I purchase new jeans or boots).



Other than those 2 instances... I cannot find anything in the law that makes me liable or subject to a "tax".



The question is if "gains" are taxable... and according the Supreme Court, gains is income and subject to the "income tax".... therefore, gains is taxable.



I wonder how the courts feel about ruling on "Law" that doesn't really exist? Does anyone have a strategy worked out to take this one (tax law repealed) head on? Not me.. not yet. But, at some point in the future, I will.



Ice