From the Cato Institute’s Dan Mitchell: “Now the White House Wants to Raise Taxes without Congressional Approval?!?”
Dr. Mitchell cites relevant text from the Constitution, as contained in the official repository at the National Archives: “All Bills raising Revenue shall originate in the House of Representatives.”
Dan continues, “Maybe I’m not a very careful reader, but I don’t see anything in that passage about ‘unless President Obama feels otherwise’ or ‘with the exception of unilateral tax hikes on companies’.”
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Richard C. Young is the editor of Young's World Money Forecast, and a contributing editor to both Richardcyoung.com and Youngresearch.com.
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