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’.”
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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