This is a well reasoned and well written article that criticizes the tariff policies of Trump.
Time will tell if it is correct, but the arguments are valid economic theory.
Valid economic theory does no win elections.
No shit, look at NYC
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The authors are right about tariffs being a pseudo sales tax, and I don’t like the idea of having a sales tax and an income tax. On the other hand, we are continuing to spend like we really have the money to spend, and that can’t continue forever. The deficits, and resultant debt, can only be reduced by spending less and taxing more. If tariffs help make that work, good. But I don’t think they will.
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The problem is, who says they will use the tariff money to reduce the deficit?
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That’s why I don’t think they will work. Congress has never seen a dollar they didn’t want to spend twice.
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Just ask yourself the question, “If my representative in Washington is handed some new money to allocate where would they choose to spend it?”
I don’t know how long the list of options might be for each congressional member’s list, but I’m willing to bet that “pay down the debt” would be at or near the bottom of most of them.
Memes are not facts.
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More tariff news. Postal services in many countries, as well as package delivery companies, have temporarily halted shipments of all kinds to the US.
I think I’m learning how in the hell someone could have bankrupted a casino.
Disagree. Taxing more ends up in diminishing returns quickly, because you choke off the bandwidth for growth.
There’s an argument for lower taxes even now, with much much lower spending, as the quickest way out.
The spending is the problem and always has been.
While I agree with this statement currently, my mind could be changed if we were to go 5 years with gradual reduction in spending. Then I could possibly support a temporary tax to reduce the debt.
Yes it is
That’s good news. One less casino extracting money from the poor. Of course, Democrats like my body my choice but then these individuals become part of the welfare system