Earlier today Trump reiterated his obsession with destroying the US economy by glorifying tariffs and glorifying America of over one hundred years ago.
Trade deficits have no bearing stock markets on US economy, and our 401(k)s
Trump is stuck in a dementia type fog of yesteryear.
TRUMP: Everybody wants to be a part of what we’re doing. They know that they can’t get away with it any longer, but they’re still going to do fine. And we’re going to have a country that you can be proud of, not a laughingstock all over the world for many years.
Trump has turned the country into a laughingstock since foreign and domestic investors and trade partners know imposing yo-yo tariffs only causes chaos and destruction.
Then Trump opined on the good old days of 1913 and rattled off his dementia filled version of tariffs.
TRUMP: You know, in 1913, they traded to the income tax system.
We used to be all tariff.
And we had no income tax, and we had the wealthiest country we’ve ever had, proportionately, from about 1870 to 1913, it was all tariffs.
And we did. We had more money than anybody. They had committees how to spend the money. They had so much money they didn’t know how to spend.
Then some brilliant person said, let’s go income tax. Let’s let the people pay.
We’re going to be able to substantially lower taxes when this is finished.
