Wealthy people and great entrepreneurs aren’t going to not start that great business because they will pay more taxes if they make it big. Either way, if successful, they would have done something great and will be rich.
The most profitable and flexible workforce for Americans is illegal immigrants.
When we put tariffs on China, we are saying every country on Earth can get low inputs from China except America, making American business less competitive.
“”The OECD now forecasts global economic growth to slow to 2.9% this year from 3.3% in 2024,” notes Bloomberg. “It expects the rate of expansion in the US will tumble further, to 1.6% from 2.8%—an outlook that is significantly lower than its projection in March.””
“Trump unilaterally imposed tariffs on much of the world. Yet the president has no such authority under Article II of the Constitution, which enumerates the limited powers of the executive branch. Instead, the authority “to lay and collect Taxes, Duties, Imposts and Excises,” as well as the authority “to regulate Commerce with Foreign nations,” resides exclusively in Article I, which is where the limited powers of the legislative branch are detailed.
So, Trump’s trade war violates the constitutional separation of powers because Trump has unlawfully exercised power that the Constitution placed in the hands of Congress, not in the hands of the president.”
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“As a pretext for his trade war, Trump invoked the International Emergency Economic Powers Act (IEEPA). Yet “the statute is silent on tariffs, and for good reason. It was never meant, and has never been understood, to authorize the President to impose them.” That observation comes from a superb friend of the court brief filed by a cross-ideological group of legal scholars and former government officials in support of the legal challenge against Trump’s tariffs. Their brief thoroughly explains why Trump’s use of the IEEPA to fundamentally remake the American economy cannot be reconciled with any law passed by Congress. In short, Trump’s tariffs flunk the test imposed by the major questions doctrine.”
“Imports are essential to the kits that Levi and his one employee assemble in a warehouse near Charlottesville, Virginia. For example, a kit that teaches kids how to build a small theremin requires a circuit board, resistors, capacitors, bits of wire, and plastic molding to hold batteries and other pieces in place.
“I don’t have millions and millions of dollars to spin up my own circuit board assembly line, and plastic mold injection, and everything,” Levi says.
Though he is running a small, niche operation, Microkits is in many ways a microcosm of American manufacturing. Levi provides the ideas and designs, and he oversees the final assembly of his products in America, but those products combine parts sourced from around the globe.”
“As CEO of Plattco Corporation, a small business that makes industrial valves, Derrigo-Barnes runs the sort of blue-collar industrial production shop that Trump and his allies say they want to help. Instead of being helped, she found herself dealing with fallout from the tariff announcement: canceled orders, higher prices, and enough uncertainty to put on hold a planned expansion of the company’s Plattsburgh, New York, manufacturing center on the banks of Lake Champlain.
What would she tell Trump if she got the chance? “Stop the nonsense. We’ve worked hard to get us to a place where we can perform well and we can take care of our customers, and this is putting that in jeopardy.””
U.S. and global economic growth predicted to slow due to really dumb economic policy out of Washington. Tariffs and unpredictability are bad for the economy.
Big tech companies are getting around antitrust by “investing” in startups, making their founder their employee, and pretending that this is an investment rather than an acquisition. This stifles competition.
Trump crypto coins are a problem because people, including foreign governments and organizations, can tell Trump or one of his associates that they will purchase an exact amount of coin tomorrow at an exact time in exchange for certain presidential actions by Trump. Trump will know who paid him and for what, but it will be untraceable by anyone else.
Trump’s tariffs are costly, but if Trump takes over the financial power currently held by the Fed, that’s a much more dangerous threat to the prosperity and democracy of the United States. Especially when you combine this with Trump’s other potentially costly actions like limiting science and scientists, Trump’s constellation of bad economic policies could add up to a considerably weaker U.S. economy.
“Burns noted it’s important to counter Beijing’s increasingly aggressive economic, diplomatic and military global footprint — but warned that Trump is going about it all wrong, particularly by using tariffs as a cudgel against longtime partners who otherwise might have allied with the U.S. against China.”
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“The fact that we’ve had trouble convincing the Chinese it’s in our interest to have our senior military leaders talking. My nightmare scenario as ambassador was not an intentional conflict, but an accident.”
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” I think the fundamental mistake that was made was that when we imposed tariffs on China, we also imposed high tariffs on South Korea, Japan, the European Union, Canada and Mexico. All those countries are on our side in the big issues that separate us from China. All of them have the same economic issues and trade problems with China. If we had highlighted China as the major disruptor of global trade, which China has been for the last couple of decades, and formed a coalition with the EU and Japan and the U.S. — that’s 60 percent of global GDP — we would have had leverage for these negotiations.”
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“The Chinese have been saying every day for the last several weeks that the United States is being unfair, that we’re a bully, that we’re disrupting global trade. In fact, they’re the biggest problem in global trade. Intellectual property theft against American and other nations’ companies; forced technology transfer; dumping of EVs, lithium batteries, solar panels on the rest of the world below the cost of production; disrupting global markets; trying to kill the manufacturing industries in places like the United States and Europe.”
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“I think what the American people need to understand — our government and both parties — is that China is a worthy competitor. Their science and technology talent is prodigious. The level of scholarship, of patents, of research in some areas exceeds us, or is equal to us. In some critical areas of technology transformation, they are putting massive amounts of state-directed money into their national champions like Huawei, with companies that they want to succeed in the world. They’re doing it on a consistent basis, and they plan over decades, so they have that advantage.
When I was leaving in January, the Chinese announced $15 billion of state money going into quantum computing alone. They want to beat us to the punch there. That’s something that’s not as well understood in American society and even in our press — people have older, conventional views of China that are outdated.”
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“The destruction of USAID was a catastrophic mistake for the United States. That was our agency that said to the rest of the world, “We’ll help you on vaccines. We’ll help you with HIV. Will help you with polio.” Elon Musk and company destroyed USAID in one week and laid off 8,500 people. That helped China.
The Chinese then went out with a massive propaganda blitz the next day all over the world saying, “The United States is not interested in you any longer.” I watched the Chinese do this in February and March. The way the cuts were done, the fact that it was done with so little thought, so little information, and so little respect for our career civil servants was disgraceful.”