This is the Libertarian Podcast from the Hoover Institution. I'm your host Tom Church, and I'm joined, as always, by the Libertarian Professor Richard Epstein.

Richard is the Peter and Kirsten Bedford Senior Fellow

here at the Hoover Institution.

He's the Lawrence A Tish Professor of Law at NYU and he's a senior lecturer at the University of Chicago

Richard. How are you ready for another Supreme Court round up? Oh yes, I mean this is the boom season for us like April is for accountants.

It is indeed although we still don't have rulings on the Trump immunity case or the

obstruction charges in the January 6th case. Or the question about the two challenges to the Chevron case Loper and relentless.

I love the name of the second one, relentless because that's what we are with respect to that issue. I was going to say

Chevron is something I want to hear more about. All right, but we do have a really

interesting tax case. I want to talk to you about more versus United States

decided 7-2 authored by Justice Kavanaugh.

We've talked about this previously when it was maybe about a year ago.

This is concerned with taxation of foreign earnings.

I guess really what it is is it's a it was a mandatory

repatriation, repatriation tax in the 2017 tax cuts and jobs act and it's this

issue of Canon entity, can a corporation that hasn't necessarily, well,

corporations that have realized taxes but not distributed the earnings, can people who own shares

in this be taxed?

It's this unearned taxation case. So annoyingly, the court didn't make a decision on whether the Constitution requires income to be realized before it's taxed, but it did say in this case this tax was allowed so help me disentangle what's happening here

okay look this is a technical interest of momentous importance.

What happened in this case to be more technically precise about it

is under the 2017 Act,

...