In discussing Trump’s presidency, I though that one of the few things that he cared about, other than his own business interests, was the stock market. It looks like I was wrong. His imposition of drastic tariffs on pretty much all countries have tanked stock markets worldwide and led to fears of a recession. Even he must have known that this would happen and yet he went ahead anyway, raising the question: Why?
One answer is that he thinks that the tariffs will raise enormous amounts of new revenue, enough to pay for the tax cuts for the rich. Of course, since the costs of the tariffs will be borne by the importers of goods who will pass it on to consumers in the form of higher prices, this is just another typical reverse Robin Hood plan by Republicans, taking from the poor and giving to the rich, a policy much favored by the oligarchy. The higher costs paid by most people will be more than what they will receive in the form of small tax cuts, but that inconvenient fact will be omitted while Trump brags about the tax cuts.
But I have to think that there is more at play here, that the tariffs are really a power play. A clue to what might be going on can be seen in some comments he made.
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