Tax comic · October 2026

The Hook Swap, Part II

Debits & Credits · Tariffs · Customs · Section 301 · Section 232

Debits & Credits comic strip: The Hook Swap, Part II. Transcript below.Open full size

Debits & Credits, October 14, 2026. Laughs are nonrefundable.

Transcript. Panel 1, Debit studies an entry form with IEEPA and Section 122 struck through in red and a new Section 301 stamp going on. Thought bubble: “They swapped the hook again?” Panel 2, a podium announcement of a 15% tariff under Section 232, the earlier authorities crossed out behind the flag. Panel 3, Debit at his desk with his “It depends.” mug and a stack marked TEMPORARY (AGAIN). Debit: “Same rate. New basis. Still temporary.”

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This alert is for general information only and is not tax, legal, investment, or accounting advice. Consult your own advisers before acting. Carlos A. Schmidt, MBT, MBA, CPA · carlos@lapresallc.com · (917) 558-6393.