Trump's failure to reduce the US trade deficit has actually produced an increase of 7.9% over the previous year at the same time his tax giveaway to his 1% base has increased the budget deficit.
How could tariffs partially solve that problem, and who would pay?
Trump's New Tariffs on China Help Pay for his Corporate Tax Cut
"And that is that the American budget, government budget is running up deeper and deeper debt as a result of Trump’s tax giveaway to the 1%.
"And so he says, how am I going to shrink the budget deficit?
"He says, I know I’ll make my constituency pay.
"That is, the people that voted for me.
"I’ll make labor pay.
"If I can raise taxes on 300 billion of Chinese imports by another 10%, that’ll be all together I think a 20%.
"That’ll yield $60 billion to help us solve the budget deficit that I might give away to Wall Street and the wealthy corporations he’s created.
"So it’s all a diversion so that people won’t look at what’s really happening."
What's really happening is that Trump is isolating the US by driving China, Russia, Europe, and Iran into trade pacts that might well end the dollar's role as a global reserve currency.
Are you tired of winning yet?
How could tariffs partially solve that problem, and who would pay?
Trump's New Tariffs on China Help Pay for his Corporate Tax Cut
"And that is that the American budget, government budget is running up deeper and deeper debt as a result of Trump’s tax giveaway to the 1%.
"And so he says, how am I going to shrink the budget deficit?
"He says, I know I’ll make my constituency pay.
"That is, the people that voted for me.
"I’ll make labor pay.
"If I can raise taxes on 300 billion of Chinese imports by another 10%, that’ll be all together I think a 20%.
"That’ll yield $60 billion to help us solve the budget deficit that I might give away to Wall Street and the wealthy corporations he’s created.
"So it’s all a diversion so that people won’t look at what’s really happening."
What's really happening is that Trump is isolating the US by driving China, Russia, Europe, and Iran into trade pacts that might well end the dollar's role as a global reserve currency.
Are you tired of winning yet?