The Economic Illiteracy of Trump's Tariffs

Trump's logic on tariffs is irrational. That's because it shares a far-left philosophy of taxation

Most folks paying attention know that President Donald Trump is not of great intellect. This is especially true as it relates to economics.

One of Trump’s quotes about his tariff program reinforced that.

“All I know is this: We’re going to take in hundreds of billions of dollars in tariffs, and we’re going to become so rich, you’re not going to know where to spend all that money. I’m telling you, you just watch! We’re going to have jobs. We’re going to have open factories. It’s going to be great.”

When you grasp what Trump is saying here, you realize that his logic shares the logic of a certain left-wing economic populism that has failed every time it has been tried.