shooter_tx
06-21-2010, 10:15 AM
I am looking for the Supreme Court opinion regarding the "upper limit" on the percentage of income that could be confiscated via the Internal Revenue Code.
My recollection is that the Court held there wasn't one. Thus, their opinion was that 100% of our income [I]could be taken and it would be perfectly constitutional.
My recollection is also that the phrase "legislative grace" appeared in the opinion (e.g. "Thus, it is only by legislative grace that the rate is not 100%.").
However, in the last hour or two of searching, I have only been able to find the phrase "legislative grace" applied to deductions, not the income tax rate itself, so this may end up being a red herring.
Thanks in advance for any assistance that anyone here may be able to give. :)
My recollection is that the Court held there wasn't one. Thus, their opinion was that 100% of our income [I]could be taken and it would be perfectly constitutional.
My recollection is also that the phrase "legislative grace" appeared in the opinion (e.g. "Thus, it is only by legislative grace that the rate is not 100%.").
However, in the last hour or two of searching, I have only been able to find the phrase "legislative grace" applied to deductions, not the income tax rate itself, so this may end up being a red herring.
Thanks in advance for any assistance that anyone here may be able to give. :)