" The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration. "
Income" ... means "gain" "derived" from, and not accruing to, capital or labor or from both combined, including profit gained through the sale or conversion of capital, the gain not being taxable until realized, and, in such connection, "gain" means profit or something of exchangeable value, and "derived" means proceeding from property, severed from capital, however invested or employed, and coming in, received or drawn by taxpayer for his separate use, benefit, and disposal.
[Staples v. U.S., E.D. Penna., 21 F.Supp. 737]
.
There is a clear distinction between "profit" and "wages" or compensation for labor. Compensation for labor cannot be regarded as profit within the meaning of the law.
[Oliver v. Halstead, 196 Va. 992; 86 S.E. 2d 858]
Can somebody post a link to Milley's comments.
https://files.catbox.moe/m3yvr5.mp4
Minus the bogus 16th amendment, one would hope....
Also, I hope they change the name to REPUBLIC OF UNITED STATES OF AMERICA
Sixteenth Amendment:
" The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration. "
"Income" means "gain" -- "gain" means "profit":
Income" ... means "gain" "derived" from, and not accruing to, capital or labor or from both combined, including profit gained through the sale or conversion of capital, the gain not being taxable until realized, and, in such connection, "gain" means profit or something of exchangeable value, and "derived" means proceeding from property, severed from capital, however invested or employed, and coming in, received or drawn by taxpayer for his separate use, benefit, and disposal. [Staples v. U.S., E.D. Penna., 21 F.Supp. 737]
.
There is a clear distinction between "profit" and "wages" or compensation for labor. Compensation for labor cannot be regarded as profit within the meaning of the law. [Oliver v. Halstead, 196 Va. 992; 86 S.E. 2d 858]