Why Trump and the GOP are doomed to fail with their proposed tariffs.
Did you know? In 1930, Herbert Hoover wanted to pass the Smoot–Hawley Tariff Bill, which would raise tariffs in order to help stimulate the economy during the Great Depression?
And in response, more than 1,000 economists signed an open letter, urging him to veto the bill because the tariffs would only make the economy worse?
But he passed that bill anyway, tariffs went up, the economy got worse, and the only good thing to come out of that whole mess was FDR becoming president and un-f***ing the economy?
Why the random history lesson?
Because our current president, in his infinite wisdom, being supported by the party that claims to worship the invisible hand of the free market and oppose taxes and regulations, wants to pass massive tariffs on our biggest trading partners, which would essentially regulate the market and place a tax on foreign goods.
And, well, as the old saying goes: “those who fail to learn from history are doomed to repeat it.”
J.C. Alexandre 