Justice has railed against the majority decision in a case that could herald a new wealth tax on billionaires. In —a case ostensibly about an American couple's investment in an Indian farm tool company, but for a proposed "wealth tax" and other tax on income that has not yet generated profit—most of the court's justices, including Chief Justice , sided with the government. While the majority wrote in its opinion that the court would not automatically accept new taxes, Thomas was unconvinced.
"The majority arms itself with dicta to tell 'no' in the future. But, if the Court is not willing to uphold limitations on the taxing power in expensive cases, cheap dicta will make no difference," Thomas wrote in his dissent. The associate justice believes Congress will now try to introduce new taxes.
"If Congress invites calamity by building the tax base on constitutional quicksand, 'the judicial power' afforded to this Court does not include the power to fashion an emergency escape," he wrote. Thomas' dissenting opinion was joined by , with the remaining seven justices ruling in favor of the government. has contacted Thomas' office for comment via email outside normal working hours.
Thursday's Supreme Court opinions showed that Charles and Kathleen Moore's $40,000 investment to help what they call in court documents "India's most impoverished regions" has much wider implications. The couple, who earned no profit on their Indian investment, was still taxed on the capital, which they.