CNN · updated 2026-07-01

Money that could be distributed to shareholders when you sell a security for profit.

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“Money that could be distributed to shareholders when you sell a security for profit.”

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A 1920 Supreme Court case redefined what counts as taxable income!

In Eisner v. Macomber, SCOTUS ruled stock dividends weren't taxable income under the 16th Amendment — a landmark decision shaping U.S. capital gains law that influenced tax policy for decades.

This storyHow much in securities does the DTCC settle annually?

  1. About $500 trillion
  2. About $2.5 quadrillion
  3. About $50 billion
  4. About $10 quadrillion
Guess, then reveal the answer

About $2.5 quadrillion

Eisner v. Macomber (1920) first defined capital gains under U.S. law.

The Supreme Court ruled 5-4 that stock dividends weren't taxable 'income' under the 16th Amendment, establishing that capital gains are only taxable when 'realized' — a principle still central to tax law today.

SCOTUS ruled 7-2 in 2024 that unrealized gains CAN be taxed!

In Moore v. United States, the Supreme Court upheld the Mandatory Repatriation Tax on overseas profits never paid out to shareholders — a ruling with major implications for any future wealth tax proposals.

Cancer is the 2nd leading cause of death in the U.S.

Regional Cancer Care Associates (RCCA) is one of the largest oncology networks in the U.S., giving their physicians frontline insight into treatment trends. Explore cancer data at CDC.gov

This storyIs rapid tech growth helping or hurting democracy?

  • Strengthening it clearly 0%
  • Weakening it overall 0%
  • Mixed — depends on who 0%
  • Too soon to judge 0%

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