Reported 1 day ago
In this commentary, Rick Newman critiques President Trump's proposal to replace income taxes with tariffs, arguing that high tariffs could lead to significant revenue loss and economic downturn. Despite claims of success from historical tariffs, Newman's analysis reveals the modern economic landscape's complexity, including the negative impact of high tariffs on consumer behavior and government revenue. The article underscores that Trump's simplistic approach overlooks historical economic realities and the functions of contemporary government spending.
Source: YAHOO