Trump’s tariffs have finally been held UNCONSTITUTIONAL by the Supreme Court, which means we will probably see photography equipment prices come back down in the near future unless retailers decide they are going to keep the difference. Similarly, people should be refunded what they paid, but there is no good way for the government to do this, so Trump will likely keep the $200+ billion he took from United States taxpayers over the last year. The opinion is a bit of a mess, but below is a good summary of the court’s holding.
“For those who think it important for the Nation to impose more tariffs, I understand that today’s decision will be dis-appointing. All I can offer them is that most major decisions affecting the rights and responsibilities of the American people (including the duty to pay taxes and tariffs) are funneled through the legislative process for a reason. Yes, legislating can be hard and take time. And, yes, it can be tempting to bypass Congress when some pressing problem arises. But the deliberative nature of the legislative process was the whole point of its design. Through that process, the Nation can tap the combined wisdom of the people’s elected representatives, not just that of one faction or man. There, deliberation tempers impulse, and compromise hammers disagreements into workable solutions. And because laws must earn such broad support to survive the legislative pro-cess, they tend to endure, allowing ordinary people to plan their lives in ways they cannot when the rules shift from day to day. In all, the legislative process helps ensure each of us has a stake in the laws that govern us and in the Nation’s future. For some today, the weight of those virtues is apparent. For others, it may not seem so obvious. But if history is any guide, the tables will turn and the day will come when those disappointed by today’s result will appreciate the legislative process for the bulwark of liberty it is.” – Justice Neil Gorsuch
The fact that Congress holds the power of the purse is taught to elementary school children in America, and all of this could have been avoided if the administration hadn’t tried to grab power. It will probably take months to lower prices, just as it took months to raise them, but new products that haven’t started shipping yet should be priced more competitively going forward.
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