Sen. Rand Paul explained to CNBC viewers how backward and ridiculous Trump is by claiming trade deficits are terrible and then levying economic destroying tariffs on our trade partners to appease his obsession.
PAUL: I mean, the whole debate is so fundamentally backwards and upsides 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’s ripping you off or Japan’s ripping you off.
It’s absolutely a fallacy.
Trump admitted his economic philosophy, if we can call it that, is from the 1890s which should signal to an actual Congress that this man is incapable and incompetent mentally to serve in the Oval Office.
Sen. Paul, who I normally can’t stand, explained Trump’s fallacy in terms even pig Trump can understand.
PAUL: Every trade that occurs in the marketplace is mutually beneficial.
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 Walmart 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.
