People in the media have mentioned it but it is largely glossed over and it has King Kong size importance that being why President Trump has this enormous and almost obsession like commitment to instituting tariffs on foreign exports to America. The real reason isn't to stop the fentanyl trafficking, illegal immigration and return a large amount of domestic manufacturing to America although these all are President Trump's policy goals and tariffs are a tool in the President's tool box to achieve them. The true play here the real reason why President Trump wants these tariffs is to pay for his extension of the 2017 tax cuts and to add a whole slew of additional far out tax cuts to the tax code. Allowing President Trump to implement this plan of his will result in devastation for America. This writer isn't a left winger and especially not on tax policy I believe all the individual income 2017 tax rates should be extended it's a basic fairness issue but for a multitude of reasons it is wrong to use tariffs to pay for them and considering the backdrop of the nation's finances where the nation's national debt level is so high that sovereign debt investors crystal clearly have told the U.S. Treasury you the country's financial condition gets worse and you will be paying significantly higher interest rates on Treasury bonds and notes where there will be no ceiling on how much we charge, the merits of the issue will guide. This is critical because when the tariff payfor is pulled or fails and it will budget deficits will grow and sovereign debt investors will do what they say they would do and America will be left with permanently higher Treasury interest rates and correspondingly higher interest rates across the economy. Why won't the tariffs work for a multitude of reasons; first as an abundance of experts say tariffs ultimately will be passed on to the consumer now the vast vast majority of tariffs will be put on not to protect U.S. manufacturing which if that was the case one could say there is a reasonable possibility they could last so what almost certainly will happen is the next or a future administration will remove the tariffs as an unjustified burden on the American consumer and actually I think it would be more likely than not that after the tax extension bill is passed using tariff payfors (the reason for Trump's manic zealousness for tariffs will be gone) and if the Republicans don't look strong in the mid-terms President Trump will pull the tariffs to try to help Republicans in the eyes of the voters who are also consumers and therefore will be paying the costs of the tariffs. The other reasons why the tariffs won't work or generate as much revenue as expected because tariffs will cause some manufacturing to return to the continental U.S. because such a move will offer lower production cost to manufacturers and a lot of foreign manufacturing will be moved to countries that are not subject to the tariff, the outcome that occurred with the China tariffs in President Trump's first administration.
The America public and the media need to remember that with Donald Trump you are always dealing with an extremely clever and cunning person; Donald Trump is not telling you what his real agenda is he will milk the fentanyl angle and other countries emptying their prisons into America with illegal immigration and other things like that but his agenda is to be this epic President in lowering taxes and if it ultimately devastates America he doesn't give a damn. The other thing one must keep in mind is that Donald Trump has a dangerous view on debt specifically it is not a big deal to him to default on debt he did it at large scale numerous times in his personal life. Back when Donald Trump was running for President back in 2016 he floated the idea of just giving all Treasury bond holders a haircut for how to solve the nation's national debt problem, he was encouraged to drop the idea for obvious reasons but it reveals the defaulting on America's debt option doesn't bother President Trump's conscience!
What Donald Trump needs to not forget is that in many Americans eyes including this writer that follow public policy closely they will never forget the truth about what he did to the nation in 2017 with his tax reform bill where by not making the bill deficit neutral he destroyed the longstanding bipartisanship agreement in Washington where neither party should significantly increase the deficit do to partisan spending or partisan tax cuts thus putting America on a trajectory where the national debt is no longer fixable and will permanently result in large amounts of tax revenue going to pay the interest on the national debt as opposed to needed government expenditures for the American people. Most importantly though President Trump needs to never forget that he isn't going to be allowed to do a repeat to do another partisan big deficit spending or big deficit tax cut bill with out paying a truly, truly, truly outstanding price the stakes now involved are that when the sovereign debt crisis occurs there will be no going back there will be no fixing it for there is no way to cut that debt level the amount of money involved cannot be acquired the American people will be stuck with higher interest rates and the devastating effect of that result!
So what President Donald Trump needs to do is to stop with all his irresponsible and affront to sensibleness new tax cuts ideas: the no tax on tips, the fifteen percent corporate tax rate on domestic manufacturers, etc. Further, last weeks episode where the Trump administration tried to put a pause on Federal grant spending which had to be reversed because of the public outcry showed that the far right Republicans plans to block grant the Medicaid program which will cause a lot of people that need Medicaid insurance to find no room on the rolls and the Republican plan to throw people with pre-existing medical conditions in the Affordable Care Act individual Insurance Exchanges out of the boat will not fly from a public accepting it standpoint. So President Trump needs to get on the stick and engage in the negotiations to how to pay for the extension of the tax cuts. Thers is a ton of revenue that can be found in closing unjustified loopholes in the tax code. Plus there is much opportunity for President Trump to put on his disruptor hat and come up with smart ways to raise revenue. I got one for you here; put into Federal Law that juries across America cannot issue punitive damage awards higher than four million dollars per case; what this would do is lower insurance premiums for America's businesses and Doctors etc. thus lowering a business expense and therefore increasing their earnings thus increasing the tax revenue they pay to the U.S. Treasury. This is not so far fetched an idea because back around the year 2000 it was a widespread Republican Party policy goal have Federal Law cap punitive damages at three million dollars per case!
The way things are looking right now is that it seems the Trump administration is planning to pass the tax bill on the back of tariff revenue and deficit spending when this effort gets chopped to bits and the Republicans are left with either a tax cut extension bill or a sucky one "Happy Days" will be over for Donald J. Trump. Currently, Donald Trump is living the high life he is being treated like this mythical figure in the Republican Party he is treated like he does no wrong he is Mr. Teflon nothing bad sticks to him. Well the music for him will stop then President Trump will stop getting his free pass, Republicans from high and low will start acknowledging that President Trump is a disaster for the Republican Party and the country that he hurts the country and badly! President Trump seems to lack wisdom from the standpoint that he does not keep in mind that he is popular now because he won the last election and won the Party the Congress, when the Republican Party begins losing with Trump especially if the Republicans lose the House in the mid-terms they will turn on him and when they do many Republican leaders will really and truly cripple Donald Trump because of what he did to the Republican Party and how he hurt the Party they will make an example of him. It is unbelievable how he tarnished the reputation of the Senate Republican conference coercing them to confirm appointees that were shockingly unqualified; Republican Senators credibility on blocking unqualified nominees will be ruined for thirty plus years; when you think they are poised to confirm Robert Kennedy Jr. as Secretary of Health and Human Services. A Secretary Kennedy would be in charge of the CDC, the FDA and NIH responsibilities that require great dexterity and evaluation skills on scientific research and Mr. Kennedy clearly is a person of deficient intelligence during Mr. Kennedy's confirmation hearing he was asked numerous times about the Medicaid program, and it was crystal clear he did not understand or remember how the program actually works with his repeated reference to premiums in the program - it is a healthcare welfare program there is no premiums; and how can you put a man who will largely be in charge of the American people's health and an important aspect of the nation's health depends on the nation's children getting their vaccinations and there is a known fear in the nation's population specifically parents about vaccines causing health problem for their children vaccinated even though it is scientifically unfounded and in the actual confirmation hearings the nominee is still sewing doubts about the safety of vaccines repeated refusing to say that vaccines do not cause autism and there is extensive science to support this conclusion.
Donald Trump would be smart to keep in mind that he really needs to have a St. Paul conversion experience and get on the path of behaving good because his post election going ons collectively are outside the realm of normal behavior and display that he has extreme gaps in the area conscience: the wanting to militarily take back the Panama Canal and take Greenland from Denmark and bring in the country of Canada as the 51st state in America and send in U.S. troops into Gaza to do what an army that is second to no one, the Israeli Defense Forces, could not do. Donald J. Trump is on a slow and steady B-line to being permanently labeled as a crazy person and a nut by the vast majority of both parties in Congress and if that happens the bi-partisan Washington establishment could treat Trump accordingly that is contain him and work around him. For instance the big job that Washington has to do over the next four years is extend the 2017 tax cuts and the establishment could do this in a veto proof margin bill that extends them "four" years, that would push it past Trump's second term and don't pay for them so there would not need to be a fight (I would also increase the SALT deduction from 10K to 12.5K to make up for inflation) and pass yearly budgets with an inflation increase plus one percent; the sovereign debt investor community should not be significantly moved in a bad direction because it is clear Washington is just trying to work around Trump, basically put the country on pause for four years. Staff that works in the White House and in Washington could just not cooperate with Trump on the surface cooperate but below the surface not to mitigate and/or stop any harm from him!
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Tampa Bay Buccaneers reinstate Super Bowl-winning coach Jon Gruden into Ring of Honor
