Posted on 03/09/2018 11:21:50 AM PST by TBP
President Trump may have lost his chief economic adviser over the trade war hes hatching with China. It looks, though, like he gained one recruit Charles Smoot Schumer.
Schumer was nicknamed Smoot Schumer some years ago for Utahs Reed Smoot, a notorious protectionist. The Smoot-Hawley tariff act, passed in 1930, helped precipitate the Great Depression.
America spent decades overcoming the consequences of the error. Not until Trump, though, did a president win office on such a pointedly protectionist platform.
Trump announced last week he was going to start with tariffs on steel and aluminum. It humiliated National Economic Council director Gary Cohn, a free trader. So the ex-No. 2 at Goldman Sachs announced hes quitting.
Cohn, a Democrat, wasnt the only one opposing the tariffs. Some of the savviest Republicans in Trumps informal brain trust, like economist Lawrence Kudlow, have long been warning against tariffs.
(Excerpt) Read more at nypost.com ...
What a dishonest comment considering the corporate tax rate was just slashed by 15%.
Businesses have more capital than they did before Trump become President.
Schumer opposed cutting corporate taxes, opposed pulling out of the Paris Climate Accord and opposed slashing EPA regulations.
Stop having a hissy fit and lying about Trump's policies.
Not the best use of the picture I agree. As I recall he decided the American Bank that failed triggered the depression after the Fed failed to prop it up. I remember watching his series explaining it, but that was a few years back.
Let's see, charging others more for a service because they charge you more for the same service is a bad thing ... letting them bleed you w/o having the same accountability is a good thing....that sounds almost like the Dems philosophy on illegal invasions - let the illegal invaders have free access at great expense and don't do anything to tip that apple-cart....because sacrifice for the "common good" (and deterioration of a once sovereign nation) is a noble way to go down.
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