Trump’s Tax Plan Is a Leftist Economic Agenda Wrapped in Populist Talking Points
If you voted for President Donald Trump last November because you believed he’d increase economic freedom, it’s safe to say you were fooled. Following a reckless tariff barrage, the White House and its allies are preparing a new wave of tax code gimmickry that has more in common with progressive social engineering than pro-growth reform. And don’t forget a fiscal recklessness that mirrors the mistakes of the left.
Defend these policies if you like, but let’s be clear: The administration shows no coherent commitment to free market principles and is in fact actively undermining them. Its approach is better described as central planning disguised as economic nationalism.
This week’s example is an executive-order attempt at prescription drug price control, similar to Democrats’ past proposals. If implemented, it would inevitably reduce pharmaceutical research, development, and innovation.
Tariffs remain the administration’s most visible economic sin after Trump launched the most extreme escalation of protectionism since the infamous Smoot-Hawley Tariff Act of 1930. Unlike the 1930s economy, however, today’s economy is deeply integrated with global supply chains, making the damage extensive and far more immediate. Tariffs are only nominally imposed on imports. Ultimately, they’re taxes on American consumers, workers, and businesses.
The president has made it clear that he’s fine with limiting consumer choice, blithely telling parents they might have to “settle” for two dolls instead of 30 for their children. Smug
Article from Reason.com
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