By Bill Maher
A wise man once said, “Trade wars are good and easy to win.” No, wait, let me check my notes, it was a total dumbass.
The Trump trade deficit in goods hit $891.3 billion last year, according to The New York Times, the highest in US history. And the taxpayers have already laid out at least $7.7 billion in support to farmers who can’t sell their crops to China. I’m so tired of winning, I might pass out.
But here’s the part that really throws me: how the Trump cult refuses to understand that tariffs are taxes. A tariff is a sales tax. It’s just applied at the border instead of the Piggly Wiggly. According to a report from the Centre for Economic Policy Research, the tariffs are resulting in $3 billion in taxes a month, plus $1.4 billion in efficiency losses. Not paid by the Chinese. Paid by you, Bocephus. (For example, major appliances, which have been getting cheaper for years, got 10% more expensive last year.)
If Trump was an emperor, he’d jack up the price of bread and going to the circus.