Memo to President Trump: Tariffs Suck, the Federal Reserve Sucks, the Income Tax Sucks, the Federal Budget Sucks, the Military-Industrial Complex Sucks
Sustainable prosperity depends on economic freedom and limited government
With his announcement yesterday about reciprocal tariffs, President Trump reveals his support for big government in the form of managed trade. If Republicans in Congress do not push back, they will show their hypocrisy claiming they are fiscal conservatives and proponents of free enterprise.
Free trade—domestically and internationally—is our “natural right.” The Declaration of Independence is clear—we are endowed with unalienable rights—Life, Liberty, and the Pursuit of Happiness.
Pursuing our happiness means trading with whomever we want. It does not mean the federal government should be “protecting” the auto industry or any other sector and workers. If nations impose tariffs on their imports, they are screwing their people. They, in turn, should be protesting their countries’ statist policies if they want to consume more imports.
If American companies face onerous tariffs because of nations imposing barriers, they could open businesses overseas or try to sell in countries with lower tariffs. Tariffs on American imports are screwing American consumers.
Trump makes the egregious assertion that nations have been “ripping off America.” What the hell is he talking about? If Americans believe they are being ripped off by imports, why do they continue to purchase goods manufactured overseas, in Mexico, and in Canada.
Trade is a transaction between a buyer and seller, no matter where they are located. Interference with trade is immoral.
In short, limiting the power of government is not only good economics but a moral imperative.
Trump is listening to economic charlatans in and out of his administration. He needs to spend a week at Mises University this summer and learn about sound economics.
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The solution: MAKE AMERICANS FINANCIALLY INDEPENDENT.
The insufferable Jim Cramer reveals his economic ignorance in a recent CNBC rant.
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Joseph Cotto and I discuss the economy on his podcast.
Tom DiLorenzo’z pamphlet, Axis of Evil, is now available at the Mises Institute.
Order a free copy of Rothbard’s money and banking classic monograph. Or, you can read it online here.
My December 10 talk on medical care.
Bob Murphy interviews Dr. Keith Smith of the Surgery Center of OK.
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Murray Sabrin, PhD, is emeritus professor of finance, Ramapo College of New Jersey. Dr. Sabrin is considered a “public intellectual” for writing about the economy in scholarly and popular publications. His book, The Finance of Health Care: Wellness and Innovative Approaches to Employee Medical Insurance (Business Expert Press, Oct. 24, 2022), and his other BEP publication, Navigating the Boom/Bust Cycle: An Entrepreneur’s Survival Guide (October 2021), provides decision makers with tools needed to help manage their businesses during the business cycle. Sabrin's autobiography, From Immigrant to Public Intellectual: An American Story, was published in November, 2022. He is also the author of Why the Federal Reserve Sucks.
The entire government sucks. Tell me what part doesn't at this point in history? The massive corruption in the entire DC swamp is irreversible because anything that remains after firings and downsizing will still be corrupt and it will fester once again and regrow like a gigantic boil to the size of Mt Everest.