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Democrats’ new tax problems and other commentary

Constitutionalist: Dems’ New Tax Problems

With Democrats out of the blue eyeing a “wealth tax” to fund their spending goals, Ira Stoll objects at The New York Sun: “The constitutional challenges . . . are considerable.” The group of 600 or so billionaires Dems would goal “is small enough that it could be subject to the Constitution’s prohibition, in Article I, against a bill of attainder.” And: “The 16th Amendment that gave Congress the power to tax income applies to income taxes, not wealth taxes.” Plus: “A wealth tax could also violate the Fifth Amendment takings clause, the 14th Amendment’s due process and equal protection clauses and the Article I prohibition against ex post facto law.” Treasury Secretary Janet Yellen says it gained’t be a wealth tax, however Speaker Nancy Pelosi introduced, “We will probably have a wealth tax.”

Libertarian: Bigger Gov’t, Like It or Not

Gallup not too long ago reported that with COVID subsiding, Americans have shifted again to favoring a extra arms off-approach for presidency — but, cautions Reason’s J.D. Tuccille, historical past suggests they could not get that. Last 12 months, a uncommon 54 % needed a extra energetic position, however now a extra typical 52 % say the federal government is doing an excessive amount of. Yet that “brief shift in sentiment allowed enough of an opening for the ratchet to click forward into a new position,” with the potential for completely extra energetic authorities. Historically, “the state gets larger during crises and never fully returns to its pre-crisis status.” The public could not need “bigger government, but we’re all likely to get a taste of it, anyway.”

Conservative: Biden’s No Pal to Working Class

“During the 2020 election, Joe Biden positioned himself as the Democrat who could win the working class from President Donald Trump,” notes Spectator World’s Amber Athey. “Joe from Scranton” was presupposed to carry “normalcy back to the White House.” But 10 months in, his administration has proved “shockingly divorced from the lives of everyday Americans.” To “a massive breakdown in the global supply chain, leading to shortages of goods and increased prices for consumers,” the one White House response was to mock Americans about Santa. Treating the general public “with such brazenness, particularly within an administration that claimed to be on the side of the working class,” exhibits “the White House is merely a reflection of Biden’s phoniness.”

Econ watch: Winter Recession Is Coming?

“Evidence pointing to a coming US recession is starting to pile up,” warns National Review’s Jim Geraghty. Economists count on Thursday’s gross-domestic-product numbers to point out 2.8 % third-quarter development, “a significant drop from” the second quarter’s 6.7 %, with some projecting positive aspects as little as 0.5 %. Even the upper quantity “would be pretty lousy for an economy that is supposed to be rebounding out of a pandemic,” however “expect worse in the fourth quarter that we’re currently in. Businesses can’t find workers — we have 10.4 million unfilled jobs” — and the Dec. 8 deadline for federal contractors to get vaxxed or be fired will additional gasoline workers shortages. Everything “seems to be getting more expensive, and the “supply-chain problems are just catastrophic.” So: “No, Jen Psaki, this isn’t just a matter of delayed treadmills.”

Trump veteran: Joe’s ‘Unilateral’ Green Panders

Unable to “achieve meaningful legislative victories” to “appease the environmental left,” Team Biden will now probably pursue “unilateral” govt and regulatory actions as an alternative, predicts former Trump aide Boris Epshteyn at Newsweek. That consists of new limits on methane emissions that may damage small companies whereas multinationals preserve “making money hand over fist.” President Biden’s EPA appears to be counting on a “questionable” report from inexperienced group Ceres, which will get donations from giants like Shell. But the foundations imply job losses for US power employees. “The Democrats’ radical climate agenda will punish America, while giving the upper hand to less environmentally friendly competitors like China. America spent decades fighting for energy independence. Under President Trump, we finally achieved it. Now, Joe Biden wants to cede that independence back to other countries.”

— Compiled by The Post Editorial Board

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