Supreme Court Case Could Dramatically Change Tax Laws & New McDonald's Coffee Chain

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2️⃣ This Morning’s Two Reports:

• 🏛️ Supreme Court Case Could Revolutionize U.S. Tax Laws

• ☕ CosMc's: McDonald's New Coffee Chain

✂️ Market Snippet

• DOW: 🔼 0.17% (36,117.38)

• S&P 500: 🔼 0.80% (4,585.59)

• NASDAQ: 🔼 1.37% (14,339.99)

• BTC: 🔼 0.33% (43,421.90)

• ETH: 🔼 0.46% (2,366.52)

_{*Stock numbers as of market close, cryptocurrency as of 8:45pm EST yesterday.}

🏛️ Supreme Court Case Could Revolutionize U.S. Tax Laws

The Supreme Court is currently reviewing a landmark case, Moore v. the United States, that could significantly reshape the U.S. tax code. This case focuses on Section 965 of the tax law enacted during former President Trump's administration, which levies a one-time tax on foreign income. The plaintiffs, Charles and Kathleen Moore, argue that this section is unconstitutional because it taxes earnings they haven't actually received, known as "unrealized" income. Their argument extends beyond this specific tax, potentially challenging the foundations of the U.S. tax system, and even putting the concept of a wealth tax under scrutiny. Legal experts are closely watching this case, as its outcome could lead to fundamental changes in how income and wealth are taxed in the United States. 📜💼

TL;DR ⏳: The Moores' Supreme Court case could redefine the entire U.S. tax code, particularly the taxation of unrealized income.

☕ CosMc's: McDonald's New Coffee Chain

McDonald's is stirring up the coffee market with its new chain, CosMc's, targeting coffee and drink enthusiasts. This innovative step is seen as a direct challenge to big names like Starbucks and Dunkin'. The first CosMc's opens this month in Illinois, with plans for more in Texas in 2024. CosMc's aims to capture the afternoon beverage market, a whopping $100 billion opportunity. McDonald's CEO Chris Kempczinski describes CosMc's as a blend of the past and future, imagining a McDonald's character from the 1980s opening a 2023 café. The menu promises a mix of new, customizable drinks and beloved McDonald's items. 🍔☕

TL;DR ⏳: CosMc's combines nostalgia and innovation, offering unique drinks and snacks, challenging established coffee giants.

⚡ BulletList Roundup (10 Headlines)

1. 🏫 UNLV shooting suspect identified as professor who applied for job

2. 🗳️ Trump promises to act as dictator only on 'day one'

3. 🇺🇸 U.S. lawmakers introduce defense bill, omitting most 'culture war' topics

4. 🚫 Trump skips GOP debate, appears at New York fraud trial instead

5. 📺 Over 4.1 million viewers tune in for fourth Republican presidential debate

6. 💸 California faces record $68 billion budget deficit as tax revenues decline

7. 💖 Centenarian Pearl Harbor survivors return to commemorate 82nd anniversary

8. 🔫 Man yells ‘Free Palestine’ and fires shotgun outside Albany synagogue on Hanukkah

9. 🌎 U.S. to conduct military drills with Guyana amid oil dispute with Venezuela

10. 🚑 Derek Hough's wife has emergency brain surgery following cranial hematoma diagnosis

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