And we’re underway.
The trade war President Trump inexplicably but desperately wants with China escalated this week as both countries announced another round of tariffs on the other’s imports.
We’ve said this before:
The Chinese government will not pay one penny of the tariffs.
President Trump’s blustering that they will is false, merely the latest example of our president demonstrating that he does not know what he is talking about. The Chinese government is not writing us a check nor will America be writing a check to the Chinese to pay their tariffs.
The money generated by tariffs is paid by Americans, by the companies importing the materials in the first place and, ultimately, by you and me the consumers, which makes it merely another tax on us, and not a punitive measure directed at the Chinese.
If this is news to you – and it is to some – read it again:
Tariffs are not paid for by governments; they are paid for by the companies importing the goods and materials.
All tariffs do is take money out of the economy – capital for businesses and buying power for us consumers – and give it to the government. It is, when you get right down to it, legal theft. Our money is being taken from us, with nothing of value being given in return for it. These tariffs will provide no economic benefit and, in fact, will do the usual harm done when businesses face increased costs: jobs will be cut and prices will be increased.
But we’re taking it. Nobody is occupying anything and, with few exceptions, the news media is dutifully providing a blow-by-blow account of this Chinese/US sparring but isn’t standing up and saying “wait a minute, here”.
Friends, every two years we get the government we deserve. We currently have a partisan, fractured, incompetent government that is incapable of doing anything of substance that is any good. We deserve better, of course, but we are not going to get better until you and me – we the people – demand it on Election Day.
Thank you for reading,