So, Obamacare was upheld 5-4. Not a huge surprise.
Here’s the important precedent that I see.
It’s now clear that Congress can create a tax in an unusual form, and insist that it not be labeled as a tax … and get away with that.
And, it’s also clear that such a stealth tax will still be held valid after it has passed.
So, we’re going to see a huge reorientation of the label “taxes” towards other terms that are not such hot potatoes. Like “inflows”.
I think this a huge victory for centralizers and tax-and-spenders. Most people regard those features as matching those of progressives, but I think they match the features of … politicians who need to get reelected.
So, a small victory for Democrats, a huge victory for people who like to boss others around and spend their money.