President Donald Trump’s planned 25 percent tariff on steel imports and 10 percent tariff on aluminum imports may provide a temporary boost for those industries, but the tariffs will do tremendous long-term damage to the American and global economies. Tariffs raise the price of, and reduce demand for, imported goods. Tariffs ensure the preferences of politicians, instead of the preferences of consumers, determine how resources are allocated. This reduces economic efficiency and living standards.
Some justify these economic inefficiencies as being worth it to save American jobs. This ignores how tariffs increase costs of production for industries reliant on imported materials to produce their products. These increased costs lead to job losses in those industries. For example, President Trump’s proposed steel tariff could cost nearly 40,000 jobs in the steel-dependent auto manufacturing industry. Tariffs also cause job losses in industries reliant on exports. This is especially true if – as is likely to be the case – other countries respond to President Trump’s actions by increasing tariffs on US products.
Many of President Trump’s critics do not themselves support true free trade, which is the voluntary exchange of goods and services across borders. Instead, they support the managed (by government) trade of NAFTA and the World Trade Organization (WTO). NAFTA and the WTO promote world government and crony capitalism, not free markets. Any libertarian or free-market conservative who thinks the WTO promotes economic liberty should remember that the WTO once ordered Congress to raise taxes!
Foreign manufacturers may make convenient scapegoats for the problems facing US industry. However, the truth is that most of the problems plaguing American businesses stem from the US government. American businesses are burdened by thousands of federal regulations controlling every aspect of their operations. The tax system also burdens businesses. Until last year’s tax reform bill, the US had the highest corporate tax rates in the developed word. The tax reform bill lowered corporate taxes, but the US corporate tax rate is still higher than that of many other developed countries.
The United States not only spends more on “defense” than the combined budgets of the next eight biggest spending countries, but also spends billions subsidizing the defense of developed counties like Germany, Japan, and South Korea. Bringing US troops home from these countries is an excellent place to start reducing spending on militarism.
The biggest cause of our economic problems is the Federal Reserve. America’s experiment with fiat currency has enabled a system based on private and public debt. This makes trade imbalances inevitable as the US government needs foreign investors to purchase its debt. Foreign investors get the money to purchase the US government’s debt by selling products to American consumers. A trade war could cause foreign investors to stop buying US debt instruments and could end the dollar’s world reserves currency status. This would cause a major economic crisis – but at least it would stop our shores from being flooded with “cheap foreign goods.”
President Trump’s claim that trade wars can be easily won is as credible as the neoconservative claim that the Iraq War would be a cakewalk. A trade war would likely push the global economy into a recession or worse. Instead of imposing costs on American businesses and consumers and putting those whose livelihoods depend on imports out of s job, President Trump should address the real causes of our economic problems: the welfare-warfare state, the IRS, and the Federal Reserve.
How Ronna Romney McDaniel Bribed Her Way Into Brigham Young University
It was the late 90, and Ronna Romney, named after her great grandmother, was looking for a college to attend. She had though she was shoe-in to BYU, because she was a legacy and everyone knew her father and uncle.
However her graded were less than stellar, with a grade-point average of a a C. She additionally hadn’t done much activities, and the school felt they would be criticized if they let her in. Her school shut down a few years ago, and we couldn’t reach anyone there to comment.
She called her uncle Mitt immediately, according to a family member who shared the story with me over Twitter and got my attention.
And he immediately got into action defending his favorite niece, according to the relative.
He called the President of BYU and had a conversation with him: His niece really wanted to go to BYU, and was there something he could do?
Cecil O. Samuelson, a friend of Mitt, made it clear that a donation of a million or so, and a renaming of their business institute to a Romney would make sense, especially if the niece was a business major.
So Mitt, thinking still of doing a Presidential campaign in 2000 or Gubernatorial Campaign, decided he would give a few million here and there to help the University — and it would help his reputation enormously to be seen more than a business raider.
Strangely, the next week, Ronna Romney was accepted into BYU.
She wasn’t much of a student, and decide to take the English program, feeling it would “be easy. She graduated with a BA in english a few years later, without honors or any notation.
So, is the person who claims to be a relative of the Romney’s telling the truth? Sure looks like the timeline works, that the donation happened exactly as she was making choices for colleges, and happened seemingly only after she was accepted in BYU.
Lucy Parsons Project Racists Protest Pakistanian Middle Eastern Cafe in San Fransisco
Looks like the GOP can’t help funding fake “progressive” organizations under the guise of fighting for black rights. What’s the new “cause?” A half dozen white women have been daily protesting a local Middle Eastern Cafe owned by a Manny Yekutiel, a man of Pakistani Jewish Descent whose family fled persecution in Pakistan.
Manny Yekutiel opened his eponymous Manny’s in November, calling the Middle Eastern cafe and restaurant in downtown San Francisco a “civic social gathering space.” His goal for the Mission District eatery was “to create a central, accessible and affordable place to go to become a better informed and more involved citizen,” he told the San Francisco Examiner.
Manny’s has earned praise for hosting talks with speakers on issues ranging from Black Lives Matter to urban sustainability.
But Yekutiel, who is Jewish, is being protested weekly, accused of espousing “racist, Zionist, pro-Israel ideals.” His café has been vandalized and painted with anti-Semitic and anti-Israel slogans over and over again — mainly by White racists.
The only allegation seemingly against him is that he is Jewish. Yekutiel has even said he does not support everything the Israeli government does and disagrees with its treatment of the Palestinians — and has many friends who are Palestinian.
Yekutiel reportedly has met nearly all the requirements of United to Save the Mission, a coalition of more than a dozen neighborhood nonprofits and activist groups. They include bilingual signage and staff, moderate prices (a cup of coffee is $1.75) and food prepared by a nonprofit employing homeless, formerly incarcerated and low-income community members, who earn all the food revenue. Community groups can use the space for free.
Trump Promotes “Hitler Lover” Buchanan
Despite claiming 20 years ago that Pat Buchanan was a “Hitler Lover,” the President is now quoting him in tweets.
Last week, Buchanan posted an article on the anti-immigration site Vdare.com that implored Trump to declare a national emergency on the southern border, “because mass migration from the global South, not climate change, is the real existential crisis of the West.” Trump has publicly considered such a declaration as a way to go around Congress in order to secure funding for a wall on the U.S.-Mexico border.
On Sunday, the president quoted a portion of Buchanan’s post in a pair of tweets. The first said, “‘The Trump portrait of an unsustainable Border Crisis is dead on,'” and then listed a number of immigration-related crime statistics. Buchanan did not cite the source of the data, but the context indicated it was from the Trump administration.
In 1999, Trump called Buchanan a “Hitler lover” and said it was “incredible that anybody could embrace this guy.” Buchanan, who has often been accused of expressing racist and anti-Semitic views, at the time was seeking the Reform Party’s nomination for president.
“Look, he’s a Hitler lover,” Trump said on “Meet the Press” in October 1999. “I guess he’s an anti-Semite. He doesn’t like the blacks. He doesn’t like the gays. It’s just incredible that anybody could embrace this guy.”