Posted on 04/08/2025 9:39:57 AM PDT by ChicagoConservative27
Senator Rand Paul (R-KY) said Tuesday on CNBC’s “Squawk Box” that it was “absolutely a fallacy” that the United States is getting ripped off because they have a trade deficit with another country.
Paul said, “I mean, the whole debate is so fundamentally backwards and upside down. It’s based on a fallacy, and the fallacy is this, that somehow, in a trade, someone must lose. That somehow, when you trade with someone, there’s a loser and someone’s taking advantage of you, and China is ripping you off, or Japan is ripping you off. It’s absolutely a fallacy. Every trade that occurs in the marketplace is mutually beneficial.”
He continued, “If you have a free society and I trade with you, if you want to sell me your coat and I give you $200 for it, we both agree to it and we’re both happy with the trade. No American consumer trades with China. They trade with Wal-Mart or they may buy something from China, but they individually buy something they want and they make a decision. The trade is always a win-win. Now you can artificially do this accounting between countries and say, ‘Oh, trade deficit, look at this trade deficit,’ but I have a trade deficit with my grocery store.”
(Excerpt) Read more at breitbart.com ...
Rand has turned himself into a moron.
How about the cost in good jobs and we found out during the plandemic that there is a cost in medicine and medical supplies not being produced here. Sorry Rand you are wrong on this one.
One side has factories that employ citizens who can buy other goods and services to survive, and also incidentally pay taxes.
Foreign commerce is not simply exchanging an article of clothing (or whatever) for a small amount of cash. The infrastructure matters, and right now all the infrastructure seems to offshore from us. Economically and strategically this is not good for the US.
The problem I have with people like Rand Paul and his positions on Trade is how did we end up with over a 1 trillion-dollar trade deficit if it weren’t for tariffs.
If Tariffs are so bad why does nearly every country in the world have tariffs on US imports and US has/had virtually no tariffs on the opposite.
Usually when a liberal is whacked on the head they turn into a conservative. This is the first time I seen it to the other way.
rand has lost a little admiration from this... his belief that trade is good and a win win, neglects to see the thumb on the scales to Honest trade.
he’ll come around.
Americans of working age should also have a job as well as a shopping cart.
“first of all, let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and vigor has met with that understanding and support of the people themselves which is essential to victory.”
FDR
“These tariffs adjust for the unfairness of ongoing international trade practices, balance our chronic goods trade deficit, provide an incentive for re-shoring production to the United States, and provide our foreign trading partners with an opportunity to rebalance their trade relationships with the United States.”
Paul has outed himself as Deep State.
I have to like him even if I don’t agree with or understand him. I roomed with Ron Paul in our fraternity house his senior year.
i was thinking the same thing
a trade deficit with the grocery store?
what a moron
Government deficit spending is necessary to make up for trade imbalances.
Otherwise, the Chinese, Japanese, Koreans and other foreigners would wind up with an ever-increasing percentage of the dollars.
Millions of voters must be moved to payrolls and away from the Democratic vote-buying troughs.
It’s time to say $36 trillion of deficit spending was more than can possibly be justified by stock market capital gains taxation.
Paul's fallacy is a strawman. The argument isn't that "in a trade, someone must lose". The correct argument is that you lose when the sum total of your trades reaches a point where you buy some amount more more than you produce.
The argument can also be made, when the opposite happens.
Every trade that occurs in the marketplace is mutually beneficial.”
And Rand thinks that 50 to 100 governments putting limits (tariffs and other obstacles) on who can buy your product while we don't reciprocate, is a "free market"?
Rand is really showing his ass.
“I have a trade deficit with my grocery store”
Try running a financial deficit with your bank.
That is their doctrine.
I disagree with him, but can respect that his ideology commands him to be for open borders and no tariffs.
I don’t have a deficit with the grocer, we are flush. When he turns around and buys from China instead of American farms and manufacturers, then we have a deficit.
Rand, you magnificent idiot, it is a balance ONLY when trading at equal value. When the Ornamentals steal our companies, then sell to us with 15% added in for tariffs, and we sell to them and they add in 75% we are being stolen from.
President Trump is attempting to level the field, it is very simple, even an idiot should be able to understand. Unless that person is being bought and sold like a Kansas City Mule.
Eye doctors aren’t good with economics
Hey Rand, PROVE IT!!!
You must have FACTS to backup your comments.
Show us your facts.
Rand on yet another LSD bender.
I have being trying to warn people here on FR for years, that Rand Paul is not your friend. Just like his dad, they have a fairytale view of how things work and are willing to work with democrats to get “their” vision...
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