Sunday, December 27, 2020

The governors need to sue the Fed

 They are damaged, they have states rights to taxation at the state level absent Congressional approval. Congress never approved arbitrary taxes. Congress only approved remits of profits taken during its normal operation. But the fed is both arbitrary in is taxation, large, and distorts the government bond market.

States have been robbed of the right to retail taxes as velocity is suppressed by fed actions. There is a good case for infringement, maybe not rock solid, but to visit the Supremes.

The governors have to force the issue, then separately force the revenue sharing agreement through the senate. The Supremes can order a meeting of the elders and save us all a lot of hassle. It kicks us past the threat of another Nixon Shock.

No comments: