TheWiseOldFart

Op-ed by TheWiseOldFart The word is “tariffs.” Few people understand them, and the definition is incomplete. “A tariff is a form of tax imposed on imported goods or services. Tariffs are a common element in international trade The primary reasons for imposing tariffs include (1) the reduction in the importation of goods and services by increasing their prices and (2) the protection of domestic producers.” The last time a President of the United States applied tariffs to all imported commodities was after the Stock Market crashed, and the economy nosedived and the Great Depression began in 1930. Herbert Hoover was warned about the dangers of such a drastic decision, but he refused to listen to more than 1,000 respected economists. As expected, Hoover’s actions negatively affected the world’s economy. Trump inherited an economy in full recovery. Biden was the most successful president since Bill Clinton with the establishment of a fiscal policy which proves to be beneficial for everyone....

Op-ed by TheWiseOldFart After the Great Depression began in 1929, Hoover and his administration attempted to restore America’s economy by placing tariffs on imports. This only exacerbated the situation. However, Trump is a schoolyard bully and doesn’t read or understand the lessons offered by history. The truth is, free trade agreements stimulate the world’s economies. Trump doesn’t care about any other country, or the fact that in the 21 st century, no nation can stand alone. America’s economy is dependent upon consumerism. His choice to place excessive tariffs on every nation, including our allies, is founded in a mixture of arrogance and ignorance. He believes that he can bully other nations, and force them to obey his demands. This is what happens when a lifelong failure is chosen to lead a nation of 340 million people. Remember what Trump did to America’s economy between 2017 and 2021. When he was evicted from the White House, our nation was nearing a second Great Depression, and...

Op-ed by TheWiseOldFart As we all learned more about Trump over the last 10+ years, it became crystal clear why he failed at every business venture in his life, including casinos, and why he was forced to rely on assistance from foreign nations to avoid absolute financial ruin. Anyone who voted for Trump, in any of three disastrous elections, placed the economy of 340 million people in the incapable hands of a draft dodger and criminal who avoided paying taxes with fraudulent practices. Every qualified economist in our country warned against Trump’s plan to place large tariffs on every other nation in the world, including our oldest and most trusted allies. In 1930, Herbert Hoover was faced with economic disaster after the beginning of the Great Depression in 1929. His idea was to place tariffs on most imported commodities. His plan failed miserably, and exacerbated the many problems facing the American people. Beginning in 1981 with Ronald Reagan, the idea of free trade agreements wer...