TaxBytes

The Consumer Financial Protection Bureau (CFPB) is a zombie federal agency. Congress should put a stake through its heart, but until then, the CFPB continues to pose a threat, especially since everyone thinks it is already dead.

If/when the Trump tariffs are found to be unconstitutional, those who have paid unconstitutional tariffs will be entitled to refunds.

Because the problem, as always, is spending. Federal revenue grows at a remarkably steady pace. It’s reasonably predictable. But there is no political will to control spending, and that includes President Trump, who urged Republicans against further spending cuts.

If, in an ideal world, we had a zero tax rate on business income, as a consumer you would pay less, as an employee you would make more, and as an investor you would get higher returns. Sounds great, doesn’t it?

Supplier: "Hey, John, we’ve got your order in, but I’m going to have to send you a replacement invoice."

John: "Why?"

Supplier: "Well, I have to add a 25% surcharge to the order."

Because tariffs, by design, raise the price of imported goods, tariffs are paid by U.S. consumers and businesses. It’s not inflation, since inflation is about the money supply, but it’s a price increase nonetheless—call it “tarifflation.”

Whether you support or oppose tariffs, all constitutionalists should agree: the power to tax resides with Congress. Reclaiming tariff authority is vital to preserving the Constitution’s design and the role of Congress in self-government.

Those wanting to impose across-the-board tariffs on American imports seem to think that tariffs are magic, but in fact they are guilty of magical thinking.

Politicians should not use the tax code to buy votes or to reward favored constituencies.

Washington State's voters, rather than its legislature and Supreme Court, may be able to force the state to follow its Constitution.