A while ago I wrote an article about the problems with protectionism that are being done by the president. In that piece, I made it clear protectionism, in all forms, doesn't work.
Well, it turns out that the president seems to agree. As it turns out he's giving money to industries struggling because of these tariffs. This is taxpayer money, by the way, not his own money. Of which, on a side note, he has millions.
In case you're a little confused, allow me to explain: Donald puts a tariff (basically a tax) on an industry. He then uses that tax money to bail out an industry that is hurt because of his protectionism. You would think simply not placing tariffs on products would be easier, but what do I know?
For that matter, let's just talk about how the average consumer doesn't benefit in the slightest here. You cause the consumers to pay more, and give it to corporations. That sounds like the definition of cronyism. Shouldn't the corporations set the prices and if they needs help, or in this case more money, they can raise the price themselves?
But again, what do I know. Besides the fact that no economists support free trade. Although who knows, maybe the president can beat the odds. Hope to see him win a Nobel Prize in economics in my lifetime. Or just not get a recession. After all, a man can dream.
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