"This is one of the largest tax hikes in American history, and it will be enacted by presidential decree without so much as a single vote of Congress." [UPDATED]

2 months ago 7

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"Peter Navarro [a Trump 'economics' advisor] is promising a $600 billion/year tax hike (hence $6 trillion in a decade) from the April 2nd tariff package.
    "This is one of the largest tax hikes in American history, and it will be enacted by presidential decree without so much as a single vote of Congress.
    "That is because Congress has allowed the executive branch to usurp its tax power from Article I, Section 8 through a blatantly unconstitutional delegation with no intelligible principle beyond the personal whims of the current president.
    "This is a clear cut case where the judiciary needs to step in restore constitutional order."

~ Phil Magness

UPDATE: And then there are the threats on Taxation Day to attempt to stop some of the most obvious consequences, like price rises:

 

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3. "This is one of the largest tax hikes in American history, and it will be enacted by presidential decree without so much as a single vote of Congress." [UPDATED]