Tag: tariffs

“Figures Never Lie, But Liars Do Figure” – Who is Telling The Truth? Trump Or The Bureau Of Labor Statistics?

On Friday, the U.S. Bureau of Labor Statistics (BLS) released their job report for the month of July. Employers added a total of only 73,000 jobs in July, about 50,000 fewer than was expected. It was a significant sign that the economy was slowing down. What was even more troubling was that the report revised downward by 258,000 the number of jobs created in May and June. Combined, this three-month period represents the slowest economic growth since 2009, except for the recession in 2020, during the height of the COVID pandemic. The unemployment rate inched upward from 4.1% to 4.2%. President Trump did not like the report. It indicated that his economic policies, especially tariffs, were not working very well. So, he immediately fired the head of the Bureau of Labor Statistics, Commissioner Erika McEntarfer, accusing her of “rigging” the numbers to tarnish his administration. Of course, any president, including Trump, has the right to raise questions about data reports from the BLS or from any similar agency. But if you question the figures, you need to provide evidence…if you want to be believed. This drama is taking place in plain view before the public in the United States. The American people will be functioning as the “jury” to decide whether Trump or the Bureau of Labor Statistics is more credible.

The Reputation of the BLS and McEntarfer

Over many decades, the BLS has had a reputation for being the “gold standard” of information collection agencies. Its employees take their job seriously. They make economic data public, but they do not make policy recommendations to the President or to Congress. Ms. McEntarfer, a labor economist who has worked in the federal government for more than two decades, was confirmed as BLS Commissioner by the Senate in early 2024 in a bipartisan 86-8 vote. Both Vice President J.D. Vance and Secretary of State Marco Rubio (Republicans), who were Senators at the time voted to confirm her nomination.

The Economic Impact of the Tariffs

The “Liberation Day” tariffs announced by Trump on April 2, 2025, have had a significant impact on the U.S. economy. In the first weeks following Liberation Day, the economy continued strong, as consumers who were able to do so, made big purchases (cars, appliances, etc.) before the added tariffs went into effect. Then the negative consequences began to happen. Trump had promised 90 international trade deals in 90 days, but only a few deals have even been sketched out. Due to the uncertainty created by these “on again-off again” trade negotiations, CEOs were unwilling to expand their productions. In addition, given that these tariffs are essentially taxes that will add to the sticker price of their products, these CEOs had to cautiously predict what would happen to their sales. (Don’t just take my word for this problem. Here are some sad facts from Ford. The automotive giant posted its first quarterly loss in two years after seeing $800 million in tariff costs and predicted that the tariffs would cost the company about $2 billion in annual earnings. In May Ford raised prices on three of its models produced in Mexico due to the impact of the tariffs.)

The Role of Revisions

The Bureau of Labor Statistics has twin concerns: speed and accuracy. For the goal of usefulness, the report must be released as soon as possible after the preceding month’s economic activity has occurred. By necessity, this report is preliminary. As new data is incorporated over the next several weeks, the report is revised. Revisions to preceding job reports are routinely issued when a new one comes out. Trump claims that the revisions announced on Friday show tampering, but such allegations need to be proven with credible evidence. Trump has yet to provide such evidence. As the saying go, “It’s time to put up or shut up.”

The Opinion of an Expert Appointed by Trump

Bill Beach was Erika McEntarfer’s predecessor as Commissioner of the Bureau of Labor Statistics. He was nominated to head up the BLS by Trump himself in 2017! Yesterday, Beach denounced the firing. Beach affirmed that Trump did not understand the data collection process and the reporting standards at the bureau, especially the compilation of statistics on critical economic factors including inflation and employment. He sharply took issue with Trump’s accusation of McEntarfer’s tampering with the statistics, There’s no way for that to happen,” Beach told CNN’s Kasie Hunt on yesterday’s “State of the Union” program. “The commissioner doesn’t do anything to collect the numbers. The commissioner doesn’t see the numbers until the Wednesday before they’re published. By the time the commissioner sees the numbers, they’re all prepared.”

Chris Christie’s Evaluation of Trump’s Firing of McEntarfer

Former New Jersey Governor Christ Christie has frequently defended President Trump from criticisms by his adversaries, but not on this issue. The veteran Republican politician described the firing as “classic Trump”.   On yesterday’s “This Week” television program, Christie told host George Stephanopoulos. “When Trump gets news he doesn’t like, he needs someone to blame because he won’t take the responsibility himself, and this is the action of a petulant child. Like, ‘You give me bad news, I fire the messenger.'”

The Verdict

In this public “hearing”, you, my readers, are the members of the jury. Who is telling the truth, Trump or the Bureau of Labor Statistics? Please render your verdict.

Walmart Exposes Trump’s Big Tariff Lie: “Foreign Countries Will Pay The Tariffs”

Economists and ordinary citizens agree that Trump’s tariffs are taxes paid to the US government by US retailers who then pass on these tax costs to US consumers in the form of higher prices. No mechanism exists for foreign countries to pay these tariffs. Nevertheless, President Trump has repeatedly claimed that foreign nations will pay for the tariffs. Just yesterday, Karoline Leavitt, the White House Press Secretary told reporters that Trump “maintains the position that foreign countries absorb these tariffs.” All Americans know this is a lie. The recent exchange between the president and Walmart officials clearly demonstrate that it is a lie.

Last week, Doug McMillon, the chief executive of Walmart, said that the large retail company would be forced to raise the prices later this month on many of the products they sell. He affirmed that Walmart could no longer absorb all the tariffs imposed on foreign imports. They would be forced to pass on these higher costs to their customers. Immediately Trump berated Walmart on social media. On Saturday he posted that Walmart should “EAT THE TARIFFS” and not pass on these higher expenses to their customers in the form of higher prices. His own words reveal his lies. He does not say here that foreign countries should pay the tariffs. He knows they cannot do so.

His command to Walmart is unbelievable at a much deeper level. He has repeatedly railed against socialist governments (and others) for interfering in the “free markets” of capitalism. But this is precisely what he is doing. As the main spokesperson for the federal government, he is trying to tell a private company how to run their business. He is telling them to go against basic economic principles like the law of “supply and demand” and the “bottom line”. As far as I know, Trump is not accusing Walmart of violating any federal law. He just hates the fact that economic realists (like Walmart, Mattel, Target) are putting in plain view the insanity of his tariff policies. There might be moments (like hoarding necessities in the midst of great need) when public officials should urge companies to keep prices low. This is not that moment. Trump just wants to hide the truth about his unwise tariffs.

In unguarded moments, Trump himself has let the truth slip out of his mouth. Just last month, he was pressed by a reporter about possible empty shelves and higher prices in stores. Answering before he thought about his response, he acknowledged that “children might have two dolls instead of 30 dolls,” and that these dolls might “cost a couple of bucks more than they would normally.”

We are reminded in the Good Book that we will be judged by our words and by our actions. Judgment day might be coming this summer in the form of higher prices.

Trump’s Confusing Conversation with the Canadian Prime Minister: Perhaps Trump’s Obsessions Reflect a Mental Health Issue

Declining mental ability in older adults is a delicate issue. I address it in this post with a great deal of caution. As years go by, I acknowledge that my mind is not as sharp as it used to be. Mental decline affects Democrats and Republicans alike. Last year, I raised questions about Joe Biden’s mental acuity long before he decided not to run for re-election. It is only fair that I raise similar concerns about President Donald Trump.

Some of the most common expressions of mental decline are loss of memory, mispronunciation or misuse of words, and the fossilization of ideas. Biden’s and Trump’s verbal gaffes are common and have been ridiculed by late night comedians (especially by Stephen Colbert). These can be funny, but are usually not very serious. The fossilization of ideas is much more significant, especially in those who are in positions of authority. It is observed when people are apparently stuck in a mental rut. They are seemingly unable to break free from their old ways of thinking. This mental decline is colloquially captured in the phrases “you can’t teach an old dog new tricks” and “we’ve always done it this way”. On at least two issues, Trump exemplifies this problem: Canada and tariffs. During his meeting with the newly elected Canadian Prime Minister Mark Carney on Monday, his fossilized thinking on these two topics was clearly evident.

Canada: Our 51st State?

For several months, Trump has referred to Canada as our 51st state. This might have been seemed to him as “funny” or “cute”, but it is not. (This was reinforced by his referring to the previous Prime Minister Justin Trudeau as “Governor”.}  There is no positive effect to calling Canada our 51st state. He repeated the phrase and belabored it at length in his meeting with Carney. The phrase is demeaning. It is bullying. It implies that Canada is not a true nation. It suggests that our northern neighbor is worth less than 2% of the United States. In their recent election, Canadians rallied around the Liberal candidate Carney as the “Anti-Trump”, and as a result, they voted Carney into power over his Conservative opponent.

Trump’s advisors have told him to stop using the phrase “the 51st state”. It is damaging to our relationship with our long-standing neighbor and friend. It shows the moral poverty of our president… or his mental decline.

Tariffs

Trump has been fascinated (obsessed?) with the “positive” benefits of tariffs for over three decades. Somewhere along the way, he heard that tariffs were good. In the best-case scenario, a precise tariff might be useful to protect a country’s weak industry (ex. Car production). Let us be clear. Tariffs are taxes paid by importers, and then passed on to consumers. Economists are nearly unanimous in affirming that Trump’s tariffs will cause a sharp increase in inflation. 75% of U.S. citizens (including Trump supporters) believe they will increase the price of goods. CEOs of the large retail chains have warned Trump of higher prices and empty store shelves. The Dow Jones Index does not like tariffs and it shows. Trump’s Liberation Day brought a huge slide in the stock exchange.

Can Trump overcome his failing obsessions? I hope old dogs can learn new tricks.

Why Would Anyone Trust Trump on Trade and Tariffs? (Part II): Goals, Instability, Possible Corruption and Unjust International Trade

A week ago, I posted a brief article, “Why Would Anyone Trust Trump on Trade and Tariffs? ‘BE COOL’ Is Not an Adequate Answer”. In that post, I raised serious questions about President Trump’s six corporate bankruptcies and the huge national debt increase that took place during his first presidency. I also explained that tariffs are, in fact, taxes paid by import companies (not the exporting companies nor exporting countries), and the costs of these taxes are usually passed on to consumers. In today’s post, I want to add some other issues: goals for tariffs, the negative effects of “on again / off again” tariffs, possible corruption, and explore who has benefited from unjust international trading.

Goals for Trump’s Tariffs

  • One goal for Trump’s early tariff on Canadian goods was to punish that country for allowing great quantities of fentanyl to enter into the United States and contribute to drug addiction in our country. This is a bogus argument. According to U.S. Customs and Border Protection (CBP) data, only 43 pounds of fentanyl were intercepted coming from Canada into the U.S. last year. This is less than 1% of all interceptions (of which the overwhelming majority come across the U.S./Mexico border).
  • A more repeated goal or motivation is to make the tariff so high that companies will move their production to the United States. They hope that by avoiding the tariff, their products will stay cheap enough to avoid a decrease in their sales. This probably won’t happen for the following reasons. Some products (like coffee or bananas) cannot be economically grown or produced in the United States. For manufacturing jobs, the cost of labor is much cheaper in some countries (China, Mexico) and this comparative advantage makes it still more economical to produce in foreign countries (even including the tariff) than in the U.S.
  • The transition to production in the U.S. usually involves a significant investment of capital. These investments are risky if the tariff rules are subject to the presidential whims of “on today” and “off tomorrow”. The flow of capital requires a certain degree of stability not yet demonstrated by Trump’s trade negotiations and policies.
  • Another more reasonable goal for tariffs is to promote ”national security”. Why should the U.S. allow rivals/enemies (China) have control over the production of components (like semiconductors) that are essential for military weapons or the high tech utilized to obtain sensitive intelligence. This has led to opposite policies: (1) Semiconductors are so important that the president needs to carve out an exemption from tariffs for them, thereby guaranteeing their continued production and availability, at least in the short run; OR (2) Semiconductors are so important for our national security that we need to ensure their production occurs within our country. This can only done if we have high tariffs on them and thereby making it more economical to produce them here.
  • Trump is right when he affirms that international trade is sometimes unfair. He is wrong when he affirms that the U.S. is always the victim. A personal anecdote illustrates his error. I was living in Mexico in 1976. At that time the U.S. dollar was pegged at 12.5 pesos. Wealthy investors caused a run on the banks by buying up these “cheap” dollars. The Mexican government had to slow down this run on the banks and did so by devaluing their currency to a 24 peso to the dollar rate. Overnight the purchasing power of my dollars almost doubled whereas the ability of my Mexican friends to buy American products was cut in half. I personally benefited from the devaluation. My Mexican friends were the victims. What happened at an international level? Americans began buying more Mexican (now cheaper) products and Mexicans bought fewer products made in the U.S. Although this was seen as a trade “deficit” (from the U.S. point of view), in fact, Americans were beneficiaries of this dramatic weakening of the peso. Similar devaluations took place in Argentina, Brazil and much of the Global South with the corollary huge increase in inflation in those nations. These frequent devaluations have been pushed by the IMF, the World Bank, and others. The world winners have mostly been the United States and other countries in the Global North. Through decisions way beyond my control, my fellow Americans and I have benefited.
  • Insider trading takes place when some investors have advanced knowledge of some decisions which might greatly affect the rise or fall of stock indexes and then use this information to buy or sell certain stocks to make personal gains. This is morally unfair.  President Trump’s 90 day “pause” on the reciprocal tariffs led to an historic skyrocket rise in the Dow Jones index. Did any of Trump’s friends have and utilize advanced knowledge about the pause? An independent investigation will reveal the truth. Given that officials in Congress and the Cabinet do have access to confidential economic information, all such officials should be barred from buying/selling specific stocks while they are serving in public office.
  • Handing out tariff exemptions is a highly lucrative business worth billions and billions of dollars. A week ago, Trump carved out exemptions on some electronics from China. Later, his economic advisers stated that these exemptions will be placed in a special “semiconductor bucket”. Do any of the president’s big donors control companies that will receive these exemptions? If so, this is corruption. Congress must grow some backbone and exercise its responsibility to oversee tariffs.  

One of the greatest strengths of our nation includes the checks and balances codified in our Constitution. The Legislative, Executive, and Judiciary are co-equal branches of our government and are an essential component of those checks and balances. For the wellbeing of our country, may each branch do its job. This applies to issues of tariffs and trade raised in this post.

Why Would Anyone Trust Trump on Trade and Tariffs? “BE COOL” is Not an Adequate Answer

Why Would Anyone Trust Trump on Trade and Tariffs? “BE COOL” is Not an Adequate Answer

This has been a chaotic week for the U.S. economy. Late in the afternoon on Wednesday, April 2, President Trump announced sweeping tariff hikes across the board with all of the United States trading partners (except Russia). The president proclaimed this “Liberation Day” in which he would level the economic playing field, by applying reciprocal tariffs on goods imported into the U.S. equal to the percentage that countries impose on our exports. (The conservative Cato Institute sharply criticized the administration for inflating the percentages. For example, Trump claimed that India imposed a 52% tariff on U.S. goods, although the real amount was 12%.) The Dow Jones fell 1679 points, a 4% decline. The NASDAQ fell almost 6% and the Standard and Poor sank 4.8%. On Friday, they continued their decline. Over the weekend, national and international stock exchanges continued to crash. Leading economic advisers predicted that a recession was more likely than not. This past Wednesday morning, Trump tweeted “BE COOL” trying to persuade investors to start buying stocks and not to continue the sell-off. The situation became even more dire. Retirees saw their savings decline by over 10%. By noon, Trump knew he had to do something. He announced a ninety-day pause on almost all of the tariffs. (Some say, “he flinched”, or “he caved”, or “he retreated”. The Dow Jones which had been down a thousand points skyrocketed, and set a record for the largest turnaround in a single day. People hoped that the surge would continue yesterday (Thursday). It did not, because a China – U.S. trade war still looms on the horizon. China has imposed a tariff of 125% on U.S. products whereas Trump has placed a tariff/tax of 145% on Chinese items. The Dow Jones sank another 1000 points.

Trump’s tragic history with businesses – Anyone who knows the history of Donald Trump, the businessman, should not want him to be the CEO of our national economy. Although Trump has never filed for personal bankruptcy, he has filed for chapter eleven corporate bankruptcy on six of his companies:

  • 1991: Trump Taj Mahal
  • 1992: Trump Castle Hotel & Casino
  • 1992: Trump Plaza Casino
  • 1992: Trump Plaza Hotel
  • 2004: Trump Hotels & Casino Resorts
  • 2009: Trump Entertainment Resorts

Apparently, Trump has not learned from these mistakes. In fact, he does not even admit that they were mistakes. He claims these were savvy business practices. He personally did not lose much money…, his stock owning partners had colossal losses. These bankruptcies do not include the now defunct Trump University in which Trump was ordered to pay $25 million to the students who were swindled.

Some Trump supporters like to refer to his first presidential term (2017-2021) as a wonderful economic “success”. Nothing could be further from the truth! During that administration, Trump increase the national debt by $7.8 trillion. This was the largest increase in the national debt ever by a president in a four-year period! (Whether individually or nationally, irresponsible people can be “successful and happy” if they don’t have to pay the bills.)

Where Do We Go From Here?

This economic crisis is not due to a Covid 19 pandemic nor due to a natural disaster. This came about due to the irrational decision by one man, Donald J. Trump… and his “yes men” (like convicted trade adviser Peter Navarro). Elon Musk has repeatedly called Navarro a “moron”. It remains to be seen which man, Musk or Navarro, will win this squabble and which one will have to leave.

Trump is enamored with tariffs and has been for a long time. The overwhelming majority of trained economists disagree with Trump. Tariffs are taxes which are paid by importers, who then pass along these added expenses to the prices for consumers. Tariffs go against the logic of “comparative advantage” of free market capitalism. Tariffs are a form of protectionism which rewards inefficient national industries. This is why conservative economists oppose tariffs. On this issue, liberal economists agree with their conservative counterparts.

The trade war will probably continue until either the U.S. or the Chinese economy approaches the breaking point, because the Chinese and Trump are very stubborn. After pronouncing the beautiful economic benefits of tariffs, it is extremely difficult for Trump to walk back this policy and now to acknowledge it was mistake. But if inflation starts rising dramatically and/or if we enter into a recession, his supporters will demand he reverse his tariff policy. Maybe Trump and the Chinese can reach an agreement on a low reciprocal tariff. Let’s hope so.

I urge my MAGA friends and readers to examine the facts and to evaluate Trump by the consequences of his economic actions.

Trump’s State of the Union Address: Some Good Points, but his Lies should Worry all Americans

In Donald Trump’s State of the Union Address on Tuesday evening, he was preaching to the choir. His MAGA base loved it. Republican leaders who were present got plenty of exercise as they stood up and applauded dozens of times during his 99 minute speech. He was disciplined in sticking to his text instead of his more typical going off script. He highlighted his “successes” and generally omitted his failed promises. Nevertheless, he made many claims that were totally false. I lay out some of the evidence below. I ask my readers, especially MAGA folk, to pursue the truth, the whole truth, and nothing but the truth. If the following information is inaccurate in any detail, please let me know. If Trump communicated false information, please speak truth to power.

 Trump – “The presidential election of November 5th was a mandate like has not been seen in many decades…. We won the popular vote by big numbers.”

The Truth – Trump truly won the election, but it was not a mandate. He did not even receive a majority of the popular vote, just 49.8% of those who voted. In fact, it was the smallest margin of victory since the year 2000.

Trump – “Now, for the first time in modern history, more Americans believe that our country is headed in the right direction than the wrong direction — in fact it’s an astonishing record, 27-point swing — the most ever.”

The Truth – “Thirty-four percent of Americans say that the country is headed in the right direction, compared to 49% who say it is off on the wrong track. When it comes to several specific issues, Americans are more likely to say things are off on the wrong track than going in the right direction: cost of living (22% right direction / 60% wrong track), the national economy (31% right direction / 51% wrong track), national politics (33% right direction / 50% wrong track), American foreign policy (33% right direction / 49% wrong track), and employment and jobs (33% right direction / 47% wrong track). Immigration policy is the only specific issue where more Americans say it is going in the right direction (48%) than off on the wrong track (39%).” (most recent Reuters/IPSOS poll)

Trump – “It has been stated by many that the first month of our presidency, it’s our presidency, is the most successful in the history of our nation. By many. And what makes it even more impressive, is that you know who number two is? George Washington. How about that? I don’t know about that list but we’ll take it.”

The Truth – We should be cautious when politicians (or anyone else) refuse to identify their sources. Who are the “many”? Where is the list? Was Trump really ahead of George Washington? According to the FiveThirtyEight average of national polls, only 46.1% of the U.S. citizens currently approve of the job Trump is doing, a decline of over 3% in these first six weeks of his presidency. (Donald Trump : Favorability Polls | FiveThirtyEight

Trump – “The United States has spent perhaps $350 billion on supporting Ukraine’s defense.” He also claimed that Europe has only spent $100 billion in aid to Ukraine.

The Truth – “According to the special inspector general responsible for overseeing the spending related to the war in Ukraine, Congress has appropriated or otherwise made available $182.75 billion for the overall U.S. response to the war since Russia’s full-scale invasion in 2022. Of that money, about $119 billion has been for the direct benefit of Ukraine, including approximately $65.9 billion in military assistance…. According to the Kiel Institute for the World Economy, European countries have spent around $140 billion to back Kyiv, and pledged another roughly $120 billion to the cause.” (Shannon Kingston in Fact-checking Trump’s speech to Congress)

Trump – “Joe Biden especially let the price of eggs get out of control. The egg prices are out of control. And we are working hard to get it back down.”

The Truth – Egg prices rose under Biden. They have continued to rise sharply during Trump’s first six weeks. This is the same Trump who campaigned with the promise “I will bring down egg prices on Day One.” When I was a kid, we would hear the slogan “Boys make excuses, men make good.” I hear a lot of excuses coming out of the White House. Excuses need to be quite solid in order to justify failed promises.

Trump – “the next phase of our plan to deliver the greatest economy in history is for this Congress to pass tax cuts for everybody.”

The Truth – During his first administration, Trump amassed the largest federal debt in U.S. history, $7.8 trillion. This does not lead to “the greatest economy in history”.  This debt was largely due to his tax cut that primarily benefited the very rich. It was not a tax cut “for everybody”.

Trump – Although barely mentioned in his election campaign, tariffs have played a large role in these six weeks of his presidency. He called tariffs a “beautiful word”, his “favorite word”. On Tuesday Trump proclaimed that due to tariffs, “we will take in trillions and trillions of dollars and create jobs like we have never seen before.”

The Truth – “The substantial tariffs that Mr. Trump is imposing on foreign products will raise revenue for the government. But total U.S. imports last year were about $3.3 trillion, meaning that tariffs would have to be incredibly high to generate the trillions of dollars of revenue that Mr. Trump claims.” (Fact-Checking Trump’s Address to Congress – The New York Times)

Trump – The specific special tariffs on Mexico and Canada (of 25%) were included in the written script of his address, but Trump (conveniently) skipped over these items in his oral remarks. Why?

The Truth – The conservative Wall Street Journal described these massive tariffs as the “Dumbest Trade War in History”. These tariffs took effect on Tuesday. In two days, the Dow Jones level fell some 1200 points (about 3% of its total value)! Mexico and Canada announced reciprocal, retaliatory tariffs. GOP leaders and the Big Three Automobile producers voiced their concerns to the White House. Faced with this bad news, Trump caved. On Wednesday he announced a one month “pause” on automobile tariffs with our two neighbors.

I could go on and on, but these lies are enough for now. The next big event is the budget that needs to be approved by Congress and signed into law by Trump. He says he wants a “balanced budget”. He has also promised not to touch Social Security, Medicare, and Medicaid. This is impossible. Republicans plan on cutting $880 billion from Medicaid which would lead to the closing of hundreds of nursing homes across the country and additional pain for millions of our citizens. Readers, what should we do with all these lies?

Trump’s Plan to Eliminate the Federal Income Tax: Why would any Sane Person Support It?

Former president and Republican presidential candidate Donald Trump has recently floated the idea of eliminating the federal income tax. At first glance, this could be seen as a popular plan. I don’t know anyone who enjoys paying income taxes. Nevertheless, sensible people know that we have to pay our bills, as families and as a nation. The federal government annually receives $2.4 trillion dollars from the collection of personal income taxes, about half of the government’s budget. Common sense reminds us that if you cut your income in half, you must increase your money intake in some other way. Trump claims the funding shortfall could be made up with tariffs on imported goods (see below). Government leaders, including prominent Republicans, have repudiated Trump’s plan while others have suggested that Trump was just “kidding”. Trump responded in his recent interview with Joe Rogan on Friday that he was quite serious about his plan.

It is important for us to remember that during Trump’s presidency (2017-2021), the national debt increased by $7.8 trillion dollars, the largest increase in our country’s history! His idea of raising money by 10-20% tariffs on foreign goods is also quite flawed. Foreign companies and countries would not pay a penny to the U.S. government.  The tariffs would be a “sales tax” paid for by U.S. importers who would pass on the higher costs to U.S. consumers! In addition, other countries might retaliate and impose their own tariffs on U.S. products, and thereby hurting companies in our nation.

His plan to implement massive deportation of immigrants is inhumane at a moral level. It is also economical lunacy. Many immigrants work for lower than a minimal wage. If they are deported, labor costs would dramatically increase, especially in the fields of construction, agriculture, and food services. Inflation would skyrocket.

23 winners of the Nobel prize for economics recently wrote a letter to the U.S. public in which they stated, “While each of us has different views on the particulars of various economic policies, we believe that, overall, Harris’ economic agenda will improve our nation’s health, investment, sustainability, resilience, employment opportunities, and fairness and be vastly superior to the counterproductive economic agenda of Donald Trump.”

We must also remember that many of his businesses (like Trump University) have failed. He has declared bankruptcy multiple times. He has also been found guilty of cheating on his payment of state and federal taxes.

Given this massive quantity of evidence, why would anyone of sound mind trust Trump with our nation’s economy? There might be some reasons for voting for Trump (although his lying, womanizing, felonies, racism, bullying, etc., disqualify him according to my conscience), his economic strategy is horrible,