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CBS, I on the world, I'm John Bachelor. Tax Armageddon.

That is the very clever analysis by the Wall Street Journal editorial page of a case heard before the Supreme Court in these last days,

Moore v U.S.

The case turns on a couple, the Moors, investing in an opportunity in India that turned into a very good idea and their initial investment grew in great profit but they didn't

take the profit they just kept their original interest in this worthy enterprise. The decision was then

made to tax them on the unrealized difference between their initial

investment and the present circumstance.

It's a puzzle, sometimes known as the wealth tax.

Richard Epstein, senior fellow for the Hoover Institution, he teaches law at NYU in the University of

Chicago, is here to help me understand what appears to be not only a puzzle about

the income tax laws, but also there is the intrigue here that the Biden

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