In a recent post, I explained why Trump’s proposal for a ten percent tariff on all imported goods was such a terrible idea, for both economic and geopolitical reasons. But wait! It gets worse!
Per Jonathan Chait, the usual crowd of Trump economic advisers–Moore, Kudlow, et. al.–is planning to use the proceeds of the tariff as an offset for a new corporate tax cut! We’re going to raise prices and taxes on poor and middle-class Americans for the benefit of wealthy shareholders. That’s called doubling down on the dollar store economy.
If you thought Trump would be at all interested in national conservatism, guess again. You shouldn’t be surprised to hear that we’re looking at a second round of faux populism instead.