tariffs

What’s So Great About the ‘Tax Cuts and Jobs Act’?

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Particularly amid the economic difficulties brought on by President Trump’s tariffs, there’s growing urgency within the Republican Party to mitigate the tariff damage with an extension of the 2017 Tax Cuts and Jobs Act (TCJA). Unknown is why. The tax cuts were Keynesian in design, hence not economically stimulative. Evidence supporting the above claim […]

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Thanks to Markets, We Don’t Need ‘Wait-and-See’ With Trump Tariffs

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Before investor Bill Ackman requested from President Trump a pause on his tariffs, he perhaps reasonably observed that Trump deserved the benefit of the doubt, that he’s often forged another path to right to the surprise of his critics, and that investors should support him. Pundits who follow Ackman, including New Criterion editor Roger Kimball, agreed with Ackman

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Tariffs Are Awful, Gov’t Spending Is Worse. Neither Is Inflation

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The Fed is tasked with fighting inflation that neither it nor Congress understands. See the accepted view among politicians, economists and pundits that if the Fed centrally plans low, but not-too-low unemployment, the price level will be kept in check. The notion of a “Goldilocks” economy would be the silliest notion in economics if

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Forget the Negative Income Tax, How About a Negative Tariff?

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Milton Friedman was incorrect. About the negative income tax, specifically. The great Nobel Laureate (1912-2006) viewed a negative income tax as something that would encourage work. While most people pay taxes on work earnings, those under the poverty line would essentially be paid by the IRS to work, and their negative income tax rate

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