02/23/26 Afternoon CommStock Report – My Quarter’s Worth Contribution to the Supreme Court’s Tariff Ruling Conversation

I bought ice cream while on vacation and got a quarter back in change because they had stopped using pennies. That is inflation. The Supreme Court’s ruling that IEEPA tariffs are illegal will have more ramifications than the administration suggests. That is why President Trump was so angry. First off, the Supreme Court got it right. Tariffs are taxes and under the Constitution only Congress has the authority to levy them. President Trump was overstepping his authority and he knew it…doing it anyway, hoping SCOTUS would not rein him in. They did their job. This changes the game significantly in how the president can operate. I will get into specifics in this report.   The ruling doesn’t change the fact that we, the USA, desperately need this revenue stream that tariffs provide. When President Trump laments that the loss of tariffs would ruin the country, that is not such as an exaggeration. This tariff revenue is necessary not because the US is strong but because we are weak fiscally. This country is on a fiscal path to oblivion. We spend far more that we take in in revenue making up the difference with Treasury borrowing. Foreign nations that used to…