Trump’s Tariffs

Are producing a boon to American manufacturers.

Trump is going to win on all the tariff gambits and negotiations with all of these countries, including China, simply because they need the American market much more than we need theirs.

Trump may turn out to be the preeminent president of this century. He is willing to do the tough things.

Tariffs

What is interesting about tariffs is that the federal government paid all its expenses with tariffs as the sole source of income until the income tax was introduced in 1913.

So Trump’s plan to use it as a source of income for the federal government is a very viable plan, and would allow him to lower taxes on Americans, including or specifically the income tax levied on Social Security payments — without worsening the national debt, which stands at 36 trillion.

So what would be the downside to this scheme? Tariffs lead to inflation because it would cut off inexpensive products from abroad, and replace some of them with more expensive products produced in the US, which is pro-growth for the US.

So there is a downside — there is no free lunch. But on balance, it is not an unreasonable strategy.

Abortion

Little-Known Fact

Interesting and little-known fact about our federal government is that, until the income tax was introduced, the government paid for itself by imposing tariffs on foreign goods.

Free Trade Isn’t Free

Democrats think free trade — where the US doesn’t use tariffs to protect domestic industries, as Trump did with steel and aluminum — is good for the country, but they don’t get that it produces unemployment in those areas affected by cheap foreign imports, and what you end up with is a huge rust belt of poverty and hopelessness. Free trade isn’t free.

Nincompoop