Free Republic

Treasury Secretary Scott Bessent said Friday on CNBC’s “Squawk Box” that President Donald Trump’s tariffs were a “one-time price adjustment.” Bessent said, “I don’t think it’s a radical change. It’s just a much needed course adjustment. And when we go back and look at what’s happened, there’s a new paper out called the China Shock and it talks about what happened post 2004, that some of the communities recovered, but the workers never recovered and that it was much more devastating on a human level. And what we are trying to do is make free trade fair trade, because the...

U.S. to allow tax break on retirement accountsBy David Cay Johnston The New York Times MONDAY, MAY 15, 2006 President George W. Bush is scheduled this week to sign into law an extraordinary deal for people with retirement savings accounts. By paying $1 in income taxes before they come due, these investors can ultimately avoid taxes today that are conservatively worth $3.50. Those who cannot afford to take advantage of this deal may think about it differently, however, since the $2.50 of net tax savings is, like all of the Bush tax cuts, being financed with more government debt, which...