Aaron Russo talks with IRS Commissioner Sheldon Cohen
# Note: Income is not defined in the Internal Revenue Code.
# Note: The Definition of Income was given in the Eisner vs Montgomery case to mean gains or profits from corporate activity and not wages.
Supreme Court on the 16th Amendment:
"The provisions of the Sixteenth Amendment conferred no new power of taxation . . ."
United States Supreme Court, Stanton v. Baltic Mining Co., 240 U.S. 103 (1916)
“The Sixteenth Amendment, although referred to in argument, has no real bearing and may be put out of view. As pointed out in recent decisions, it does not extend the taxing power to new or excepted subjects...”
United States Supreme Court, Peck v. Lowe, 247 U.S. 165 (1918)
Aaron with Sheldon on Title 26 (IRC) & 16th
Sheldon: Title 26 requires you to file a return.
Aaron: But doesn’t title 26 have to be in compliance with the Supreme Court decisions?
Sheldon: Your gonna take a 1920’s case and super impose it on the on the whole internal revenue code that was written after it, no that’s not….
Aaron Narrating: I can’t believe what I just heard rewind.
Sheldon: Your gonna take a 1920’s case and super impose it on the on the whole internal revenue code that was written after it, no that’s not….
Aaron Narrating: Remember he said earlier that the internal revenue code was authorized by the 16th Amendment.
Sheldon: The internal revenue code is authorized by the 16th amendment.
Aaron Narrating: Remember the supreme court said the 16th amendment did not give the government any new taxing power, these decisions have never been overturned. Lets listen further.
Special thanks to Casey Lee Cobb for the heads up posting this!
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