Why is the supreme-court slow-walking the tariff decision which is crystal clear as lower courts clearly demonstrate only Congress can set taxes/tariffs?
It would end inflation within 90 days
Even their silly 15% tariff fallback law abuse would be more sane than the 50-150% currently
It slowed down Americans because we aren't recently used to it. The rich did adapt relatively quickly by buying up all the housing they could at negative real interest, stocks, gold, and to a lesser extent crypto.
The lesson has been learned by this point though, even a day laborer is holding silver and crypto nowadays because we have in recent memory the COVID shenanigans of mass QE.
People in China and Russia have basically taken for granted so long that their currency is completely manipulated, they all already knew to not be hoodwinked.
Mate, this Supreme Court ruled that the President is immune to prosecution and de facto outside and above the law. I’m honestly not sure what to tell you if you’re still hoping for rule-of-law decisions to come out of it.
The 14th Amendment says all people born or naturalized in the US and subject to its jurisdiction are citizens.
If someone is immune to prosecution and de facto outside and above the law, I wonder if a case could be made that they are not subject to US jurisdiction, and that invalidates prior citizenship by birth or naturalization.
Someone once proposed a National Sales Tax. I think it was suggested that we could eliminate personal income taxes if we imposed a federal sales tax on all purchases.
Liberals vehemently opposed the idea, calling it 'regressive', meaning it would be socially backwards, but the idea held appeal as a simple and fair way of "taxing everyone equally". For some reason, a majority of public opinion leaned left on this particular idea, and it never gained a foothold.
When I learned of the blanket tariffs being imposed on everything imported into the US, I think I knew what I was seeing-- this was a National Sales Tax in disguise. This was an attempt to fund the federal government off the backs of people, who will at the very least pay 10% more for everything they buy.
The big lie was told-- that this was an emergency necessary correction for an ongoing American-life-threatening international trade imbalance. But the real lie was bald-faced, right there in front of us-- everybody was going to have to pay more for everything, because this was, and is, a new tax.
I think there's a slim chance the Supreme Court may not even issue a decision addressing the legality of the president's impertnent array of tariffs. Although two full months have passed since oral arguments were made before the court, we may have an even longer wait for a decision, because it sure looks like John Roberts and company can't find/manufacture a reason to uphold/allow the president's seizure of tariff power.
They have demonstrated a preference for empowering the president. The court's character is displayed with quick mute indecipherable decisions from the shadow docket, while unpopular new anti-precedents get leaked ahead of release, delayed until opinion can be spun. So I would not be surprised to see the decision delayed, maybe even all the way to next October.
However it turns out, I'll pay the price and take my medicine, and try to be happy.
> Liberals vehemently opposed the idea, calling it 'regressive', meaning it would be socially backwards, but the idea held appeal as a simple and fair way of "taxing everyone equally"
I'm not sure what you mean by "socially backwards".
"Regressive" and "progressive" are terms of art in tax law and theory. A tax is regressive if people with less income pay a higher percentage of their income toward that tax than do people with more income. Progressive is the opposite.
Sales taxes are regressive because most people with lower income necessarily spend a higher percent of their income than most people with higher income, and so even if a sales tax is the same percentage of the sale price of items lower income people end up spending a higher percentage of their income on sales tax.
Yes, that was very much my point, and thank you for making it clearer than I did. I confess to having attempted to couch the term (in single quotes) in order to lessen its potential to trigger reactionary righteousness.
By "socially backwards" I meant to allude to a reversal of social evolution. If you start with the premise that we evolve as a society (and as individuals, cells in our grand aggregate organism), then you might see an increased tax burden on the poor as moving backwards, de-evolving, regressing.
I apologise for obscuring my meaning, stepping so lightly through (what I perceive to be) the minefield of HN's perpetual potential political polarization (and for here, now, my abuse of alliteration) that I danced over the point I was trying to make.
A blanket tariff policy is effectively a national sales tax which is regressive (and bad, taxation without representation is bad, bass ackwards orange man bad).
> Liberals vehemently opposed the idea, calling it 'regressive', meaning it would be socially backwards,
That's not what "regressive" means in the context of taxation. A "regressive tax" is one that takes a successively higher proportion of your income/wealth the poorer you are, while a progressive tax is one which takes a higher proportion of your income/wealth the richer you are. This is standard vocabulary in economics.
It would end inflation within 90 days
Even their silly 15% tariff fallback law abuse would be more sane than the 50-150% currently
Next few years is going to be insanity