Guest Post by Ron Paul
As the midterm election draws near, a number of Republicans in tough races are distancing themselves from President Trump’s war. The war is unpopular because it has inflicted economic pain on the already-suffering American people.
No, I am not talking about the Iran War. I am talking about President Trump’s tariff war.
The Tax Foundation estimates that, since he returned to the White House, President Trump has imposed tariffs on about 54 percent of imported goods.
Contrary to the claims of power-hungry politicians and corporatists seeking protection from overseas competitors, the financial burden of tariffs falls on American businesses and consumers, not foreign exporters. Tariffs are a tax on Americans.
President Trump’s tariffs have been estimated to impose an over 800 dollars tax on the average American household this year.
Tariff defenders claim tariffs boost domestic industries, thus strengthening the US economy. The truth is, while tariffs may benefit some industries that have major competition from abroad, tariffs harm American businesses, like farms, that rely on exports for a substantial share of revenue. Additionally, countries often respond to increased tariffs on goods exported to the US by raising tariffs on imports from the US.
High tariffs also hurt businesses that rely on importing raw materials and parts necessary to make their products.
According to a survey of 4,150 registered voters conducted by the Cato Institute and Morning Consult, 74 percent of Americans view tariffs as a factor in the price increases that continue to bedevil American families, while 53 percent of Americans understand that tariffs weaken the US economy.
The survey’s most disheartening result — at least for President Trump and Republicans preparing to face the voters in less than a month — is that 49 percent of Americans say President Trump’s tariffs have made their lives worse.
President Trump launched his tariff war without receiving approval from Congress, even though Article One of the Constitution gives Congress, not the president, the power “to lay and collect” taxes. In order to get around the Constitution, President Trump claimed that federal laws giving the president emergency powers give him the authority to impose tariffs and thus increase taxes on the American people.
President Trump’s claim regarding his authority to impose tariffs without authorization from Congress was struck down by the Supreme Court. Then, instead of taking the opportunity the court gave him to end his tariff war, President Trump simply found new justifications to impose tariffs.
One of President Trump’s latest tariff targets is Canada. The Canadian government responded to President Trump’s tariffs by imposing tariffs on US goods. President Trump then responded by forbidding the importation of a long list of Canadian goods. Once again President Trump acted without getting authorization from Congress.
President Trump’s tariffs have raised prices for American consumers, increased production costs for many American businesses that rely on imported materials and goods, and hurt farmers and other export-reliant business.
Public anger over the economic damage inflicted by the president’s devotion to tariffs, as well as the harm caused by President Trump’s unconstitutional war on Iran, appears to be helping the Democrats regain in the upcoming election control of one or both houses of Congress.
The fact that President Trump claims to be for free markets yet is embracing interventionist policies like tariffs is contributing to the rise of Democrats winning races while publicly embracing socialism. Those of us who know the truth must increase our efforts to support the libertarian alternative to both left- and right-wing authoritarianism.
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[ H/T The Burning Platform ]
As the midterm election draws near, a number of Republicans in tough races are distancing themselves from President Trump’s war. The war is unpopular because it has inflicted economic pain on the already-suffering American people.
No, I am not talking about the Iran War. I am talking about President Trump’s tariff war.
The Tax Foundation estimates that, since he returned to the White House, President Trump has imposed tariffs on about 54 percent of imported goods.
Contrary to the claims of power-hungry politicians and corporatists seeking protection from overseas competitors, the financial burden of tariffs falls on American businesses and consumers, not foreign exporters. Tariffs are a tax on Americans.
President Trump’s tariffs have been estimated to impose an over 800 dollars tax on the average American household this year.
Tariff defenders claim tariffs boost domestic industries, thus strengthening the US economy. The truth is, while tariffs may benefit some industries that have major competition from abroad, tariffs harm American businesses, like farms, that rely on exports for a substantial share of revenue. Additionally, countries often respond to increased tariffs on goods exported to the US by raising tariffs on imports from the US.
High tariffs also hurt businesses that rely on importing raw materials and parts necessary to make their products.
According to a survey of 4,150 registered voters conducted by the Cato Institute and Morning Consult, 74 percent of Americans view tariffs as a factor in the price increases that continue to bedevil American families, while 53 percent of Americans understand that tariffs weaken the US economy.
The survey’s most disheartening result — at least for President Trump and Republicans preparing to face the voters in less than a month — is that 49 percent of Americans say President Trump’s tariffs have made their lives worse.
President Trump launched his tariff war without receiving approval from Congress, even though Article One of the Constitution gives Congress, not the president, the power “to lay and collect” taxes. In order to get around the Constitution, President Trump claimed that federal laws giving the president emergency powers give him the authority to impose tariffs and thus increase taxes on the American people.
President Trump’s claim regarding his authority to impose tariffs without authorization from Congress was struck down by the Supreme Court. Then, instead of taking the opportunity the court gave him to end his tariff war, President Trump simply found new justifications to impose tariffs.
One of President Trump’s latest tariff targets is Canada. The Canadian government responded to President Trump’s tariffs by imposing tariffs on US goods. President Trump then responded by forbidding the importation of a long list of Canadian goods. Once again President Trump acted without getting authorization from Congress.
President Trump’s tariffs have raised prices for American consumers, increased production costs for many American businesses that rely on imported materials and goods, and hurt farmers and other export-reliant business.
Public anger over the economic damage inflicted by the president’s devotion to tariffs, as well as the harm caused by President Trump’s unconstitutional war on Iran, appears to be helping the Democrats regain in the upcoming election control of one or both houses of Congress.
The fact that President Trump claims to be for free markets yet is embracing interventionist policies like tariffs is contributing to the rise of Democrats winning races while publicly embracing socialism. Those of us who know the truth must increase our efforts to support the libertarian alternative to both left- and right-wing authoritarianism.
Tweet
Continue reading...
[ H/T The Burning Platform ]
