The Corner

Capital Matters

Tax-Deferral Shenanigans

The Trump administration’s plan to stop collecting federal workers’ payroll taxes and then collect the uncollected taxes at some future date — after the election — is a pretty good definition of “harebrained scheme.”

President Art of the Deal is unable to reach an agreement with the Democrats — because they think he’s the devil incarnate, and he’d rather insult them on Twitter than try to pass a bill — and so he is carrying on the unilateral executive “I’ve got a pen!” tradition of Barack Obama et al.

The precedent is a bad one, and it invites abuse in obvious ways.

The tax deferral is likely to be the cause of nothing other than disorder and inconvenience, both now and in the future.