The founding fathers were adamant about limiting the power of the executive branch, especially when it came to taxation, which is why they specified in the Constitution that any taxation must originate in the House of Representatives. They wanted to make it hard to enact tax policy. Heck, they wanted to make it hard to pass laws in general. If not, why did they bother with divided government? They could have just given the president all of the power he wanted and called it a day. But none of that matters to the left, unless a Republican is in office. In that case they have no problem with Congress blocking the President’s agenda. Do any of you recall the liberal media complaining when the Democrats blocked George W. Bush from reforming Social Security? Of course not, because it never happened. So it’s no surprise that the New York Times ran a column suggesting that President Obama should usurp the Constitution and Congress and change the tax code.
President Obama’s allies, however, are now encouraging him to take matters into his own hands even in this realm. In the New York Times, Victor Fleischer claims, “President Obama could change the tax treatment of carried interest with a phone call to the Treasury Department.”
But what is particularly appalling is how flimsy the proposed justification is for having Obama usurp legislative power — something he has arguably done more serially and brazenly than any prior president.
“The current Republican majority in the House has shown little interest in the [carried interest] issue, with the almost singular exception of Dave Camp, the departing chairman of the Ways and Means committee, who would have closed the loophole as part of a broader tax overhaul. Every year, the Obama administration proposes a budget that would close the loophole; every year, Congress fails to act. The carried interest issue is, in other words…”
Decided? Settled? Resolved?
Please be sure to read the whole thing, and share it with your liberal friends. Maybe they’ll learn something. You may also want to suggest to them that if Obama sets a precedent of ruling by decree without input from Congress that one day a Republican may once again hold that office and decide to outlaw abortion, or decide that a progressive tax code is unfair, or any other number of things that gets the left’s knickers in a twist.