Drudge Retort: The Other Side of the News
Sunday, December 08, 2019

Fareed Zakaria - In what Republicans used to call the core of their agenda " limited government " Trump has been profoundly unconservative. Trump has now added more than $88 billion in taxes in the form of tariffs, according to the right-leaning Tax Foundation. The Trump administration has behaved like a Central Planning Agency, granting exemptions on tariffs to favored companies and industries, while refusing them to others.



Alternate links: Google News | Twitter


Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

Even the administration acknowledges the pain caused by its trade wars, responding to one bad policy with another " massive subsidies to favored victims. Farmers have been hit hard, but Trump recently explained that they can't be too angry with him because "I gave them $12 billion [in 2018], and I gave them $16 billion this year." That dwarfs the $12 billion the 2009 auto bailout cost the federal government.

Remember that free-market ideology was born in opposition to tariffs, protectionism and mercantilism, which were the central focus of writers such as Adam Smith and David Ricardo.

All this favoritism fits very well with Trump's desire to engage in industrial policy, and one shaped to fulfill his own personal agenda, not some national economic one. He consistently helps companies and workers in key battleground states he hopes to win in 2020. He urged the Tennessee Valley Authority to reconsider shutting down a power plant that buys coal from a major Trump donor. When he decides that he doesn't like a company or its chief executive, such as Jeff Bezos, he attacks them by name. Amazon claims it was unfairly rejected for a Defense Department contract worth up to $10 billion for this reason. (Bezos, Amazon's founder and chief executive, owns The Post.)

On the core issue that used to define the GOP " economics " the party's agenda today is state planning and crony capitalism. And this is what so-called conservatives are doubling down to defend.

Picking winners and losers from the Oval Office. Obama=bad. Trump=meh.... Business as usual. Get over it!

#1 | Posted by tonyroma at 2019-12-08 01:54 PM | Reply | Newsworthy 1

Fareed Zakaria... the Plagiarist.

I dislike DOTARDS and Orangutans but I dislike plagiarists more.

#2 | Posted by J_Tremain at 2019-12-08 02:15 PM | Reply

Comments are closed for this entry.

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2020 World Readable

Drudge Retort